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 a stable, demand-resilient Upper East Side neighborhood with strong collateral support and consistent asset appreciation.
Fair Market Pricing
At $633/SF, the $3.995M price aligns with comparable mixed-use sales, indicating no discount opportunity but also no overpayment risk.
Limited Sponsor Track Record
Both buyer and seller show minimal public transaction history, creating moderate sponsor risk and requiring deeper due diligence on operating experience and financials.
Clean Title & No Distress Signals
Absence of liens, litigation, or defaults supports straightforward underwriting and reduces transaction friction.
Deal Information Opacity
Unknown financing details, loan amount, and terms limit full risk assessment and refinancing potential analysis.
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 Operating History & Financials
Secure 3 years of audited P&Ls, rent rolls, and tenant leases to validate income stability and identify value-add opportunities.
Establish Buyer's Real Estate Experience
Document Ann Padden-Rubin's prior acquisitions, management capabilities, and portfolio scale to reduce sponsor risk perception.
Identify Capital Stack & Securability
Clarify loan-to-value, interest rate, and permanent financing availability to assess deal liquidity and exit optionality.
Execute Physical & Environmental Due Diligence
Commission Phase I ESA and building system inspections to uncover hidden capital expenditure requirements impacting cash flow.
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 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 Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 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