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Bldg/Twnh Sales - 1 Listings
 

 
  3/31/2020 7:38:34 PM
Prepared For: Prepared By: George Vanderploeg
SELECT LISTING Link to Photo(s)  No Floorplans Available  No Virtual Tours Available  No Setup Document  Link to Purchase Cost Analysis  Link to Map 
5 E 80th St, New York, NY10021
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Listing Information
Cross Streets: Madison & Fifth Avenues
Listing #: 2769165
Price: $15,000,000
Price Red %:  
Units Vacant: % Estate:   Delivered Vacant:
Building Information
Alt Address:    Block: 1492
Cross Streets: Madison & Fifth Avenues Lot: 7
Building Type: Twnh Single Fam Landmap:  
Neighborhood: Upper East Side Year Built:  
School District:   Lot Size: 25x102
Zoning: R Built Size: 25x102
Class: R8B Extension:
Web Address: Floors: 6
Landmark: Units: 1
Cert of Occ:   Garage:  
Heat Type:   Elevators:
Fašade: Limestone Width: 25
Lead Paint Dis:   Bldg SqFt:
13,000*
Agency Dis Req: Outdoor:
Description: 5 EAST 80TH ST. TO BE SOLD AT AUCTION ON JUNE 27, 2017 WITH A MINIMUM BID OF $15,000,000. We have been hired as Exclusive Agent to facilitate this auction to be conducted by the U.S. Marshals Service. 5 East 80th Street is a magnificently renovated 25'-wide, 6-story limestone single family mansion with elevator and over 13,000 interior square feet. The property has undergone a multi-million-dollar renovation and is in exceptional condition. It is currently leased until 2022, with a potential option to extend until 2032. There is no current access for inspections, interior photos or floor plans. It is anticipated that the asset will sell at a very deep discount to market value. The most recent comparable sale is 12 East 73rd Street, a renovated 22.5'-wide, 5-story limestone mansion with 10,410 interior square feet. It closed for $41,000,000 or $3,938 per square foot in January 2017 after only 165 days on the market. This sale values 5 East 80th Street at over $51,000,000. We are looking for a passive long-term investor (an institution, family office or individual) well acquainted with luxury Manhattan real estate and interested in a very large 15-year capital gain with minimal current net income of about $150,000 p.a. Based on the performance of luxury Manhattan real estate over the past 15 years or more, it is easy to project future appreciation of at least 3% p.a. over the next 15 years. That means a house valued today at $50,000,000 should be worth $77,000,000 in 15 years with 3% p.a. appreciation. Assuming 5% p.a. appreciation projects a value in 15 years of $104,000,000. Acquisition today at the minimum bid of $15,000,000 would provide a yield to maturity of 11.6% in the first case and 13.8% in the second case, more than triple the yield on investment grade 15 year zero coupon bonds. A yield table is available on request.
Wheelchair Accessibility:  
Other Features:
* Square Footage is Approximate
Layout
Expenses Income
Payroll: NA   Residential Common Charges: NA   
Heat: NA   Retail Unit 1 Common Charges: NA   
Cooking/Fireplace Gas: NA   Retail Unit 2 Common Charges: NA   
Electricity: NA   Storage Unit Common Charge: NA   
Water/Sewage: NA   Community Facility Common Charge NA   
Repair & Maintenance: NA   Garage/Parking Common Charge NA   
Taxes: $151,090 Storage Bin Fees: NA   
Insurance: NA : NA   
Amenity Facility: NA : NA   
Management Fees: NA  : NA   
Legal/Audit Fees: NA  : NA   
Resident Manager Unit: NA  : NA   
Administration: NA   
Park/Courtyard: NA   
Reserve Fund: NA   
Contingency: NA   
Phone/Miscellaneous: NA   
Services/Supplies: NA   
Total Expense: $151,090 Total Income: NA
Land: NA  Building: NA  Total: NA 
Remarks:  

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