197 East 76th Street
197 East 76th Street is a modestly sized mixed-use building in Lenox Hill, one of Manhattan's most stable and demand-resilient submarkets, providing strong collateral support for a potential loan. The sale price of $3,995,000 at $633/SF is broadly in line with market comps for similar mixed-use product on the Upper East Side, suggesting fair but not discounted pricing. Both buyer and seller are private individuals with limited verifiable transaction histories, which introduces moderate sponsor risk and warrants additional due diligence on borrower financials and operating experience. No distress signals, liens, litigation, or defaults are apparent from available information, and the clean title profile supports a standard underwriting approach. The deal represents a straightforward acquisition of a stabilized income asset in a liquid submarket, suitable for conventional bridge or permanent financing with standard leverage constraints.
Deal Stats
Parties
Seller / Landlord
Gary Hett appears to be a private real estate holder with limited public-facing deal history, consistent with a long-term owner divesting a Lenox Hill mixed-use asset after an extended hold period.
Buyer / Tenant
Ann Padden-Rubin appears to be a private individual investor active in the Manhattan mixed-use market, with limited public transaction history suggesting a smaller portfolio operator or high-net-worth individual acquiring an income-producing asset in a prime Upper East Side location.
Score Analysis
What this score means
A Grade B score indicates this deal qualifies for financing at up to 70% LTV, subject to full underwriting. Most deals at this level proceed to a term sheet within 2 business days.
Why this score
Prime Submarket Location
Lenox Hill is Manhattan's most stable and demand-resilient submarket, providing strong collateral support and consistent tenant demand for mixed-use assets.
Fair Market Pricing
At $633/SF, the purchase price aligns with Upper East Side mixed-use comps, indicating no discount opportunity but also no overpayment risk.
Sponsor Experience Gap
Both buyer and seller are private individuals with limited verifiable transaction histories, introducing moderate sponsor risk and requiring enhanced due diligence on borrower financials and operating capability.
Clean Title & No Distress Signals
Absence of liens, litigation, or defaults supports standard underwriting and reduces execution risk for conventional financing.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Obtain Detailed Buyer Financials & Operating Track Record
Request 3 years of personal tax returns, bank statements, and prior real estate portfolio documentation to validate borrower capacity and experience with mixed-use operations.
Conduct Comprehensive Tenant & Income Analysis
Verify current rent rolls, lease terms, tenant quality, and 3-year operating statements to confirm stabilized income assumptions and identify upside or downside risk.
Commission Building Condition & Capex Assessment
Engage third-party inspector to evaluate systems, deferred maintenance, and near-term capital requirements to refine valuation and underwriting assumptions.
