Updated Oct 29, 2024
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
About this deal
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