Clipper Realty Acquires Property At 10 W 65th St New York For $79M With Seller's Reps Aaron Jungreis And Devin Cohen
10 W 65th St, New York, NY, 10023
$79,000,000
$960/SF
Building Size
82,230 SF
Asset Type
MultiFamily
Closing
Oct 30, 2017
AI
Clipper Realty has acquired an 82-unit building located at 10 West 65th Street in New York for a total of $79 million. This property encompasses a total square footage of 82,230, contributing to its market value within New York.
Summary of transaction details:
- Property Type: Residential
- Transaction Amount: $79,000,000.00
- Address: 10 W 65th St, New York, NY, 10023
- Market: New York
- Seller's Representatives: Aaron Jungreis (Rosewood Realty Group), Devin Cohen (Rosewood Realty Group)
- Buyer: Clipper Realty
- Square Footage: 82,230
The property transaction was financed through a 10-year loan provided by New York Community Bank, which bears an interest rate of 3.3 percent. The closing of this transaction was finalized on a Friday, marking a significant step for Clipper Realty in their acquisition portfolio.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93