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JLL Brokers Acquire Multifamily Building In East Village For $28.5M

Property Image
SOLD
$28,500,000
Guthrie Garvin
Jeffrey (Jeff) Julien
+ 3

New York

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MultiFamily45,153 SF
Sold 09/16/2022
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Property Image
SOLD

JLL Brokers Acquire Multifamily Building In East Village For $28.5M

101 Avenue D, New York City, New York 10009, United States

See Similar Deals
MultiFamily45,153 SF
Sold 09/16/2022
Guthrie Garvin
Jeffrey (Jeff) Julien
+ 3
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$631
Total Square Footage:45,153 SF
Transaction Type:Sale

Located in East Village, the multifamily property at 101 Avenue D was recently sold for $28,500,000. The transaction took place on September 16, 2022. The property consists of 78 units with a price per unit of $365,385. Additionally, it spans across 45,153 square feet, resulting in a price per square foot of $631.

Summary of transaction details

The deal was facilitated by Guthrie Garvin, Jeff Julien, Andrew Scandalios, Rob Hinckley, Steven Rutman, and Jack Norton from JLL. Their expertise and representation played a key role in the successful transaction.

Players

Andrew Scandalios
68 deals$12B volume(212) 632-1821
BROKER

Jeffrey (Jeff) Julien
JLL
58 deals$9B volume
BROKER

Guthrie Garvin
JLL
42 deals$991.4M volume
BROKER

Jack Norton
JLL
15 deals$303.4M volume
BROKER

Rob Hinckley
JLL
82 deals$11.7B volume
BROKER

Steven Rutman
JLL
66 deals$8.8B volume
BROKER

Details

SOLD
IMAGE: Guthrie Garvin, Jeff Julien, Andrew Scandalios, Rob Hinckley, Steven Rutman & Jack Norton DATE: 09/16/2022 ADDRESS: 101 Avenue D. MARKET: East Village ASSET TYPE: Multifamily BROKERS: Guthrie Garvin, Jeff Julien, Andrew Scandalios, Rob Hinckley, Steven Rutman & Jack Norton - JLL (@JLL) SALE PRICE: $28,500,000 UNITS: 78 ~ PPU: $365,385 SF: 45,153 ~ PPSF: $631

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,519,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$101,254.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,104.54
Annual Debt Service$1,621,254.48