Updated Oct 25, 2024
Dr. Manocher Mehrfar Acquires East Village Multifamily For $8M
101 First Ave, Manhattan, New York, NY, USA
$8,000,000
$1,136/SF
Building Size
7,040 SF
Asset Type
MultiFamily
Closing
Mar 7, 2019
About this deal
AI
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.
On the Map
$8,000,000
$1,136/SF
MultiFamily
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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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93