Dr. Manocher Mehrfar Acquires East Village Multifamily For $8M
SOLD
$8,000,000
+ 1
New York
See Similar DealsMultiFamily7,040 SF
Sold
SOLD
Dr. Manocher Mehrfar Acquires East Village Multifamily For $8M
101 First Ave, Manhattan, New York, NY, USA
See Similar DealsMultiFamily7,040 SF
Sold
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1136
Total Square Footage:7040 SF
Transaction Type:Sale
An eight-million-dollar multifamily property located at 101 First Ave in the East Village was recently sold. The property spans 7,040 square feet and has a price per square foot of $1,136. It consists of five units and was purchased by Dr. Manocher Mehrfar.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $8M
- Address: 101 First Ave
- Market: East Village
Peter Von Der Ahe, Joe Koicim, Corey Isdaner, and Jared Bernstein acted as brokers in the deal. The seller of the property was Parke Leatherman. The purchase price per unit was $1.6 million.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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