Updated Mar 17, 2025
JPMorgan Acquires Multifamily Building At 776 Sixth Avenue In Flatiron For $130M
776 6th Ave, New York, NY 10001, USA
$130,000,000
$4,162/SF
Building Size
31,228 SF
Asset Type
MultiFamily
Closing
Mar 19, 2020
About this deal
AI
The property involved in the transaction is a multifamily asset located at 776 Sixth Avenue in the Flatiron market. The transaction took place on March 20, 2020. The property consists of 387 units and the loan amount for the transaction was $130,000,000. The lender for this transaction was The @Prudential Insurance Company, and the landlord was @JPMorgan.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Units: 387
Jamie Dimon and Mary Callahan Erdoes were involved in the deal as representatives of their respective companies. However, no further details about their roles or the agencies they represent were provided.
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93