Updated Oct 28, 2024
Jonathan Rose Cos., L&M Development Partners & Acacia Network Acquires Multifamily Property In East Harlem For $223M
1681 Madison Avenue, Manhattan, New York, NY, USA
$223,000,000
$15,824/SF
Building Size
14,092 SF
Asset Type
MultiFamily
Closing
Jun 30, 2020
About this deal
AI
The multifamily property located at 1681 Madison Ave. in East Harlem has been involved in a recent transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $223,000,000
- Units: 348
- Lender: New York City Housing Development Corp., the New York City Department Of Housing Preservation & Development, New York City Council & NYSERDA
- Landlord: Jonathan Rose Cos., L+M Development Partners & Acacia Network
The financing for the property was provided by the New York City Housing Development Corp., the New York City Department Of Housing Preservation & Development, New York City Council, and NYSERDA.
The property is owned by Jonathan Rose Cos., L+M Development Partners, and Acacia Network.
On the Map
$223,000,000
$15,824/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93