Carnegie House Land Lease

I almost bought an apartment in this building until i read the land lease paragraphs in the offering plan.

Carnegie house land lease. The 324 unit carnegie house cooperative building is the ground tenant on the property. What s with ground leases so much in the news lately. A person close to the deal said the investment group closed yesterday on the purchase of the property which is located at the corner of sixth avenue and 57th street. To appreciate just how good the deals in land lease buildings can be consider the prices at carnegie house located at 100 west 57th street.

Currently the building has a studio on the market for just 100 000 and a 1 200 square foot one bedroom unit listed at 299 000. In our second item about them in a week a consortium is paying 285 million for the land beneath carnegie house the 324 unit co op at 100 west 57th street. Discover 121 commercial properties for lease in carnegie vic 3163. 4 100 west 57th carnegie house 6 create a new discussion about this building more listings.

More rentals listings in midtown. The land underneath the carnegie house co op located at 100 west 57th street just sold to a group of investors for 285mm and the land underneath the trump plaza co op on east 61st street is currently on the market. The nyc market s been notorious lately for having low inventory so much so that buyers are often prepped for bidding wars but at the carnegie house there were at last count by bloomberg 49 apartments on the market out of 324 total a little over a sixth that s because the land on which the co op sits isn t owned by the building but rented in a set up known as yes a land lease. The land lease on.

Jun 2009 discussion about carnegie house at 100 west 57th street in midtown. Since ground lease rents are typically 6 percent of current market value reports the real deal rising new york real estate prices means the current 4 4 million rent the cooperative. More sales listings in midtown.