Updated Feb 16, 2024
Bin Yu Wang Acquires Multifamily Property In Gramercy Park, Manhattan For $18M
327 East 22nd Street, New York City, New York 10010, United States
$18,000,000
$900/SF
Building Size
20,000 SF
Asset Type
MultiFamily
Closing
Oct 3, 2022
About this deal
AI
The multifamily property located at 327 E 22nd St in Gramercy Park, Manhattan was involved in a recent closed transaction. The property spans approximately 20,000 square feet and consists of 11 units. The transaction took place on 10/04/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $18,000,000
- Address: 327 E 22nd St, Gramercy Park, Manhattan
- Market: Gramercy Park, Manhattan
- Asset Type: Multifamily
- Square Footage: 20,000
- Number of Units: 11
The lender for this transaction was Hirshmark Capital, represented by Jake Soodek. The loan amount provided was $18,000,000 and the loan type was a bridge loan. The landlord involved in the transaction was Bin Yu Wang.
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93