Updated Oct 29, 2024
Capri Apartments, LLC Acquires Multifamily Building In East Village For $13M
232 E 12th St, New York, NY 10003, USA
$13,000,000
$19/SF
Building Size
656,000 SF
Asset Type
MultiFamily
Closing
Mar 3, 2020
About this deal
AI
A multifamily property located at 232 East 12th Street in the East Village neighborhood has been involved in a closed transaction. The property, which spans 65,600 square feet, consists of 68 residential units and 2 medical offices. It is owned by Capri Apartments, LLC, with Peter Davis as the landlord. Morris Dweck of ABS Altman Warwick represented the deal as the broker.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,000,000
- Loan Amount: $13,000,000
- Loan Terms: 10 years, full term Interest Only
- Market: East Village
- Address: 232 East 12th Street
- Square Footage: 65,600
- Units: 68 Residential, 2 medical offices
John Hancock provided the loan for the transaction, amounting to $13,000,000. The loan terms are set for 10 years with full-term interest-only payments. It is worth noting that 20 out of the total number of residential units have undergone recent renovations, potentially increasing their value.
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93