Updated Sep 16, 2025
Sergey Rybak Of Rybak Development Acquires Special Purpose Property In Lenox Hill For $9.7M
248 East 62nd Street
$9,700,000
$1,351/SF
Building Size
7,178 SF
Asset Type
Special Purpose
Closing
Sep 3, 2025
About this deal
AI
The property asset involved in the transaction is located at 248 East 62nd Street in Lenox Hill, Manhattan. It is categorized as a Special Purpose asset with a sale price of $9,700,000. The building has a total building square footage (BSF) of 34,140, resulting in a price per building square foot (PPBSF) of $284. The property also offers a total square footage (SF) of 7,178, with a price per square foot (PPSF) of $1,351.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $9,700,000
- Buyer: Sergey Rybak - Rybak Development
- Seller: Catholic Near East Welfare Association
- BSF: 34,140
- PPBSF: $284
- SF: 7,178
- PPSF: $1,351
Sergey Rybak of Rybak Development represents the buyer in this transaction, acquiring the property from the Catholic Near East Welfare Association. The deal includes plans for ground-up development of the site.
On the Map
$9,700,000
$1,351/SF
Special Purpose
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New York Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93