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43 West 8th Street

Jeffrey Znaty & George Giannopoulos Acquire Multifamily Property In Greenwich Village For $4.125M
SOLDMixed-use

Jeffrey Znaty & George Giannopoulos Acquire Multifamily Property In Greenwich Village For $4.125M

43 West 8th Street

$4,125,000

Building Size

Asset Type

Mixed-use

Closing

Mar 25, 2024

AI

The multifamily property located at 43 West 8th Street in Greenwich Village, Manhattan, was recently involved in a transaction. The property spans 6,854 square feet and was sold for $4,125,000, equating to a price per square foot of $602. The buyer, Jeffrey Znaty and George Giannopoulos from Kings Capital, acquired the property from the seller, Steven Grundwerg. The transaction was facilitated by brokers Clint Olsen, Hall Oster, and Stephen Godnick from JLL.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,125,000
  • Buyer: Jeffrey Znaty & George Giannopoulos - Kings Capital
  • Seller: Steven Grundwerg
  • Brokers: Clint Olsen, Hall Oster & Stephen Godnick - JLL
  • Address: 43 West 8th Street
  • Market: Greenwich Village, Manhattan
  • Square Footage: 6,854
  • Price Per Square Foot: $602

The buyer, Kings Capital, expressed interest in value-add multifamily properties and development sites in prime areas of Manhattan and Brooklyn. Along with the property on 43 West 8th Street, Kings Capital is currently in contract for 5 other properties in Manhattan. For further inquiries or to present potential opportunities, Kings Capital can be contacted at [email protected]. The transaction also involved the reputable JLL Team and the Law Office of Joseph Cohen.

Players

Clint Olsen

JLL

Broker

$702.9M

vol

22 deals

Broker

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

3.85%

Cash-on-Cash

-1.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93