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148 E 98th St, New York, NY...

Updated Oct 29, 2024

Amir Yacobi, Mark Huttman, And Doron Yacobi Acquire Newly Developed Mixed-use Elevator Building In Manhattan
SOLDMixed-use

Amir Yacobi, Mark Huttman, And Doron Yacobi Acquire Newly Developed Mixed-use Elevator Building In Manhattan

148 E 98th St, New York, NY 10029, USA & 148 E 98th St, New York, NY 10029, USA

Building Size

9,900 SF

Asset Type

Mixed-use

Closing

Apr 16, 2018

About this deal

AI

An elevator building located at 148 East 98th Street in Manhattan has been sold in a closed transaction for a price of $7,050,000. The newly developed mixed-use property spans 9,900 square feet and has a price per square foot of $713. The building consists of 11 units, making it an attractive investment opportunity.

Summary of transaction details

  • Property Type: Newly Developed Mixed-Use Elevator Building
  • Transaction Amount: $7,050,000
  • Square Footage: 9,900 sf
  • Price per Square Foot: $713
  • Address: 148 East 98th Street, New York
  • Market: Manhattan

The seller of the property, ZJC 98th Street LLC, represented by Charles Cohen, successfully closed the deal. On the buying side, the property was acquired by Amir Yacobi, Mark Huttman, Doron Yacobi, and Rebar 148 East 98th Street LLC. The involvement of experienced individuals and their business entities in this transaction demonstrates the strong interest and potential of the property.

Players

Glenn Raff

Broker

$11.5M

vol

2 deals

Broker
Charles Cohen

Charles Cohen

Seller

$1.1B

vol

23 deals

Seller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · 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

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