SOLD
Vibe Flats & Affiliate Of JDL & Sons Acquires 28-Unit Residential Building In Kips Bay, Manhattan, For $12M
240 East 28th Street
Building Size
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Asset Type
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Closing
May 1, 2023
AI
A 28-unit residential walkup building in Kips Bay, Manhattan has been sold for $12 million. The property, located at 240 East 28th Street, spans over 17,569 square feet of built space.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 240 East 28th Street
- Market: Kips Bay, Manhattan
Vibe Flats and affiliate JDL & Sons, represented by Darren Lachar, acquired the property from Salvatore Notaro's JGJ Realty Holdings, LLC.
Players
North Vancouver CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93