Continental Ventures Acquires Multifamily Property At 360, 362, 364 3rd Ave. For $16.75M
362 3rd Ave #360, New York, Ny 10016, Usa
$16,750,000
$49/SF
Building Size
341,220 SF
Asset Type
MultiFamily
Closing
May 12, 2020
AI
Amir Chaluts and Jane Gol recently closed a transaction for a multifamily property located at 360, 362, and 364 3rd Ave. The property consists of 48 units and spans across 34,122 square feet. The deal involved a loan amount of $16,750,000 provided by Signature Bank. The landlord of the property is Continental Ventures.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,750,000
- Units: 48
- Square Footage: 34,122
- Lender: Signature Bank
- Landlord: Continental Ventures
Amir Chaluts and Jane Gol represented the respective parties in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93