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120 W 74th St, New York, NY...

John Blanchard Acquires Multifamily Property On Upper West Side For $7.05M
SOLDMultiFamily

John Blanchard Acquires Multifamily Property On Upper West Side For $7.05M

120 W 74th St, New York, NY 10023, USA

$7,050,000

$1,068/SF

Building Size

6,600 SF

Asset Type

MultiFamily

Closing

May 12, 2020

AI

The multifamily property located at 120 West 74th St in the Upper West Side was recently sold in a closed transaction. The property, delivered vacant, had been unoccupied for over 6 years. The sale price for this property was $7,050,000, and it offers 6,600 square feet of space, resulting in a price per square foot of $1,068. The property consists of 10 units, with a price per unit of $705,000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $7,050,000
  • Square Feet: 6,600
  • Price per Square Foot: $1,068
  • Units: 10
  • Price per Unit: $705,000

The seller of the property was Bryan Binder, while the buyer was John Blanchard. The deal was facilitated by Ariel Ben Ezra from OxfordNYC, who represented one of the parties involved.

Players

Ariel Ben Ezra

Wingate Advisors

Broker

$93.6M

vol

8 deals

Broker

John Blanchard

Buyer

$138.1M

vol

2 deals

Buyer

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

2.25%

Cash-on-Cash

-0.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93