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51-53 East 73rd Street, New...

Rosewood Realty Group Represents Sale Of Development Site On Upper East Side For $25M
SOLDDevelopment Site

Rosewood Realty Group Represents Sale Of Development Site On Upper East Side For $25M

51-53 East 73rd Street, New York City, New York 10021, United States

$25,000,000

$1,785/SF

Building Size

14,000 SF

Asset Type

Development Site

Closing

Dec 21, 2021

AI

A development site located at 51-53 East 73rd Street in the Upper East Side has been sold for a price of $25,000,000. The property spans 14,000 square feet, giving a price per buildable square foot (PPBSF) of $1,785. The sale took place on December 22, 2021.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $25,000,000
  • Address: 51-53 East 73rd Street
  • Market: Upper East Side
  • Buildable Square Footage (BSF): 14,000
  • Price per Buildable Square Foot (PPBSF): $1,785

The sale was facilitated by Greg Corbin and Shaun Rose of Rosewood Realty Group, who represented the parties involved in the transaction.

Players

Greg Corbin

Northgate Real Estate Group

Broker

$1.2B

vol

84 deals

Broker

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93