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305 E 61st St, New York, NY...

Jason Carter Acquires Multifamily Property In Lenox Hill For $51M
SOLDMultiFamily

Jason Carter Acquires Multifamily Property In Lenox Hill For $51M

305 E 61st St, New York, NY 10065, USA

$51,000,000

$770/SF

Building Size

66,234 SF

Asset Type

MultiFamily

Closing

Sep 15, 2020

AI

A multifamily property located at 305 East 61st Street in the Lenox Hill neighborhood has been sold for $51,000,000. The property spans 66,234 square feet and has a price per square foot of $769. The asset falls under the zoning designation of R8B, C2-5.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $51,000,000
  • Address: 305 East 61st Street
  • Market: Lenox Hill
  • Zoning: R8B, C2-5

Jason Carter has purchased the property from Mitchell Marks. The transaction was facilitated by Greg Corbin from Rosewood Realty Group and Richard Maltz from Maltz Auctions.

Players

Richard Maltz

Broker

$115.8M

vol

6 deals

Broker

Jason Carter

Buyer

$52.9M

vol

2 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93