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
Why this score
Prime Submarket Location
Lenox Hill is Manhattan's most stable and demand-resilient submarket with strong collateral support and consistent pricing power.
Unknown Deal Amount & Terms
Absence of confirmed purchase price, financing structure, and deal terms severely limits underwriting certainty and risk assessment.
Sponsor Experience Gap
Both buyer and seller are private individuals with limited verifiable transaction histories, introducing moderate sponsor risk and execution uncertainty.
Fair Market Pricing
Sale price of $633/SF aligns with Upper East Side mixed-use comps, indicating no acquisition discount to offset sponsor risk.
Clean Asset Profile
No distress signals, liens, litigation, or title issues support standard underwriting and reduce operational downside risk.
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.
Verify Purchase Price & Financing Structure
Confirm the $3,995,000 sale price, down payment, leverage ratio, and lender terms to enable accurate risk-adjusted underwriting.
Conduct Sponsor Financial & Operating Due Diligence
Obtain buyer's bank statements, tax returns, prior property performance, and management experience to quantify execution risk and stabilize confidence scoring.
Stress-Test Income & Expense Assumptions
Review 3-year operating history, tenant leases, NOI margins, and capital expenditure reserves to validate stabilized asset claims and refinance risk.
Raw Deal Textclick to expand
traded + Submit RE Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Mixed Use Sale 197 East 76th Street Share SOLD Mixed-use Ann Padden-Rubin Acquires Mixed-Use Property At 197 East 76th Street For $3,995,000 $3,995,000 $632/SF BUILDING SIZE 6,312 SF ASSET TYPE CLOSING Jun 17, 2026 Overview Market Deal Summary Caption AI 197 East 76th Street is a 6,312-square-foot mixed-use property located in Manhattan's Lenox Hill neighborhood. The property was sold for $3,995,000, translating to a price per square foot of $633. Summary of transaction details: Property Type: Mixed-use Transaction Amount: $3,995,000 Address: 197 East 76th Street Market: Lenox Hill, Manhattan Square Footage: 6,312 Price per Square Foot: $633 Buyer: Ann Padden-Rubin Seller: Gary Hett Transaction Date: June 17, 2026 Ann Padden-Rubin acquired the property from Gary Hett in this transaction. The deal highlights the engagement between the buyer and seller in the Manhattan real estate market. PLAYERS New York Mixed-use Market Snapshot Boundary boundary · Mixed-use · Sale transactions Comps Listings Map Investors Top Brokers Lenders Loading comparables… Live NEARBY MARKETS NEIGHBORHOODS Astoria Long Island City Central Old Astoria Midtown South West Clinton Midtown Lincoln Square Upper West Side Yorkville East Harlem South Central Harlem South Central Harlem North-Polo Grounds BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Linden Fort Lee STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 18.2K The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use