Updated Oct 29, 2024
Frankie Hedvat Leases Multifamily Property To The Manhattan Project At 237 East 31st Street In New York City
237 E 31st St New York, NY 10016, USA
$50
$50/SF
Building Size
2,500 SF
Asset Type
MultiFamily
Closing
Jun 28, 2023
About this deal
AI
A multifamily property located at 237 East 31st Street in New York City has been leased. The property, owned by Frankie Hedvat, will now be occupied by The Manhattan Project. The lease transaction was facilitated by Michael Segerman from Current Real Estate Advisors, representing the landlord, and Meyer Dagmy from MOD, representing the tenant. The lease was signed on June 28, 2023.
Summary of transation details
- Property Type: Multifamily
- Asking Rent: $50 per sq ft
- Size: 2,500 sq ft
- Address: 237 East 31st Street
- Market: New York City
The Manhattan Project, led by Meyer Dagmy from MOD, will now occupy the leased space at 237 East 31st Street. This deal was facilitated by Michael Segerman from Current Real Estate Advisors, who represented the landlord, Frankie Hedvat.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93