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537 West 49th Street

Russell Fridman Acquires Multifamily Property In New York For $2.95M
SOLDCo-Op

Russell Fridman Acquires Multifamily Property In New York For $2.95M

537 West 49th Street

$2,950,000

$309/SF

Building Size

9,523 SF

Asset Type

Co-Op

Closing

Jan 8, 2023

AI

A multifamily property located at 537 West 49th Street in New York was recently sold for a transaction amount of $2,950,000. The property spans a total square footage of 9,523 square feet, resulting in a price per square foot of $310. The sale was completed on 01/08/2023.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,950,000
  • Address: 537 West 49th Street, New York
  • Market: New York

The buyer of the property is Russell Fridman. The transaction was facilitated by the brokers Amit Doshi, Shallini Mehra, and Justin Barbos from the Meridian Capital Group.

Players

Shallini Mehra

Meridian Capital Group

Broker

$1.1B

vol

78 deals

Broker

Russell Fridman

Buyer

$24.8M

vol

6 deals

Buyer

New York Co-Op Market Snapshot

Boundary boundary · Co-Op · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.38%

Cash-on-Cash

-1.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93