Avison Young Sells Multifamily Asset In New York City For $5M
SOLD
New York
See Similar DealsMultiFamily1,880 SF
Sold 05/11/2023
SOLD
Avison Young Sells Multifamily Asset In New York City For $5M
1 Ludlow St New York, Ny 10002, Usa
See Similar DealsMultiFamily1,880 SF
Sold 05/11/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,659
Total Square Footage:1,880 SF
Transaction Type:Sale
The multifamily property located at 1 Ludlow Street in New York City has been sold for a total price of $5,000,000. The property spans over a total square footage of 1,880, resulting in a price per square foot of $2,660.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 1 Ludlow Street, New York City
- Market: New York City
- Buyer's Representative: Jared Minc
- Seller's Representatives: Brandon Polakoff, Alexandra Marolda, Ryan McGuirl, Joseph Moran - Avison Young
Jared Minc served as the buyer's representative in this transaction, while the seller was represented by Brandon Polakoff, Alexandra Marolda, Ryan McGuirl, and Joseph Moran from Avison Young.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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