Sun Management Acquires Hamilton Heights Multifamily For $5.1M
400 W 153 St, New York, Ny 10031, Usa
$5,100,000
$20/SF
Building Size
250,930 SF
Asset Type
MultiFamily
Closing
Jun 14, 2020
AI
The multifamily property located at 400 W. 153rd St in Hamilton Heights has been sold for $5,100,000. Spanning across 25,093 square feet, the property consists of 24 units, resulting in a price per square foot of $203. The transaction was completed at a 5.2% capitalization rate.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,100,000
- Square Footage: 25,093
- Price Per Square Foot: $203
- Number of Units: 24
- Price Per Unit: $204,000
- Seller: Maurice Mann – Mann Realty Associates
- Buyer: Ivan & Danielle Sun – Sun Management
- Brokers: Amit Doshi & Shallini Mehra – Meridian Capital Group
Amit Doshi and Shallini Mehra from Meridian Capital Group represented both the buyer, Ivan & Danielle Sun from Sun Management, and the seller, Maurice Mann from Mann Realty Associates, in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93