Landsea Homes And DNA Development Acquire Multifamily Property In Greenwich Village, Manhattan For $52.8M
536 6th Avenue, Manhattan, NYC, NY, USA
$97,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 13, 2018
AI
The multifamily property located at 530 Sixth Ave & 536-540 Sixth Ave in Greenwich Village, Manhattan, NY has been sold and financed. The sale and loan were completed on September 14, 2018. The property is owned by @Extell and was purchased by Landsea Homes and DNA Development. The sale price for the property was $52,800,000, and a loan amount of $97,000,000 was secured from Mack Real Estate. The property is a multifamily asset, and it is situated in Greenwich Village, Manhattan.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $52,800,000
- Loan Amount: $97,000,000
- Address: 530 Sixth Ave & 536-540 Sixth Ave, Greenwich Village, Manhattan, NY
- Seller: @Extell
- Buyer: Landsea Homes and DNA Development
- Lender: Mack Real Estate
The deal was facilitated by Patrick Hanlon, Sean Meehan, and Ross Cumming of Ackman-Ziff, who acted as brokers in the transaction.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93