David Leuschen's LLC Sells Stanford White-Designed Townhouse At 973 5th Avenue For $49.9M
973 5th Avenue
$49,900,000
$3,118/SF
Building Size
16,000 SF
Asset Type
Single Family
Closing
Feb 18, 2025
AI
A Stanford White-designed townhouse located at 973 5th Avenue has an asking price of $49.9 million. The property spans 16,000 square feet, with a price per square foot of $3,119, situated in the Upper East Side market. After being on the market for four years, the property underwent a $30 million price cut from its original listing of $80 million in 2021.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $49,900,000
- Square Footage: 16,000
- Price Per Square Foot: $3,119
- Address: 973 5th Avenue
- Market: Upper East Side
- Seller: An LLC linked to ex-Goldman Sachs partner David Leuschen
- Listed Price in 2021: $80,000,000
- Price Reduction: $30,000,000
The transaction was represented by the brokers Andres Perea-Garzon, Carrie Chiang, and Lesley Schulhof from The Corcoran Group. The property went under contract on February 18, 2025.
Players
New York Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93