Updated Oct 29, 2024
Sush Torgalkar & Gary Barnett Acquires East Village Multifamily For $160M
510 E 14th St, New York, NY 10009, USA
$85,000,000
$623/SF
Building Size
136,235 SF
Asset Type
MultiFamily
Closing
Dec 11, 2019
About this deal
AI
Located at 510 E. 14th St. in the East Village, this multifamily property was recently involved in a closed transaction. The property consists of 160 units and was transacted for a total of $160 million. The lender in this deal was Citigroup, providing a loan amount of $85,000,000. The landlord of the property is @Extell.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $160,000,000
- Lender: Citigroup
- Loan Amount: $85,000,000
- Landlord: @Extell
In this transaction, Sush Torgalkar and Gary Barnett were involved. They represent their respective parties in the deal.
Note: The total transaction was $160 million, with $85 million provided by Citigroup and $75 million provided by Mezz Rexmark.
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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93