Richard Park Acquires Multifamily Building On West 24th Street In Flatiron, Manhattan
17 West 24th Street
$8,150,000
$961/SF
Building Size
8,480 SF
Asset Type
Mixed-use
Closing
Jan 2, 2024
AI
A multifamily property located at 17 West 24th Street in the Flatiron neighborhood of Manhattan has been sold for $8,150,000. The property spans 8,480 square feet, resulting in a price per square foot of $961.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,150,000
- Address: 17 West 24th Street
- Market: Flatiron, Manhattan
- Buyer: Richard Park
- Seller: Michael Shah
- Broker: Stacy Gim - Compass & Marcus & Millichap
The buyer of the property is Richard Park, while the seller is Michael Shah. The transaction was facilitated by Stacy Gim from Compass and Marcus & Millichap.
Players
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
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93