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106 West 76th Street, Manha...

Stephen Vann And Michael Katz Acquire Multi-Family Property In Upper West Side For $6M
SOLDMultiFamily

Stephen Vann And Michael Katz Acquire Multi-Family Property In Upper West Side For $6M

106 West 76th Street, Manhattan, New York, NY, USA

$6,000,000

$865/SF

Building Size

6,935 SF

Asset Type

MultiFamily

Closing

Oct 28, 2021

AI

A multi-family property located at 106 West 76th Street in the Upper West Side neighborhood of Manhattan has been sold for $6,000,000. The property has a building square footage (BSF) of 15,363 and a price per BSF (PPBSF) of $391. The total square footage (SF) of the property is 6,935, with a price per square foot (PPSF) of $865. The property is zoned as C1-8A and R8B, with a floor area ratio (FAR) of 3.39. It falls under tax class 2B and has a lot size of 2,043 square feet. The last sale price of the property was $0 in August 1999, and its lot dimensions are 20 feet by 102.17 feet.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $6,000,000
  • Market: Upper West Side, Manhattan
  • Zoning: C1-8A, R8B

The buyer of the property is Stephen Vann and Michael Katz, while James F Hefelfinger is the seller. The transaction was facilitated by brokers Richard Pretsfelder and Sophie Smadbeck from Leslie J. Garfield.

Players

Richard Pretsfelder

Leslie Garfield

Broker

$75.4M

vol

10 deals

Broker
Michael Katz

Michael Katz

Buyer

$231.9M

vol

6 deals

Buyer

James F Hefelfinger

Sackman Enterprises

Seller

$10.8M

vol

2 deals

Seller

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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93