Updated Sep 9, 2024
Kei Mastagna Acquires Murray Hill Multifamily For $8.7M
121 East 37th Street, Manhattan, New York, NY, USA
$8,700,000
$945/SF
Building Size
9,200 SF
Asset Type
MultiFamily
Closing
Jan 27, 2021
About this deal
AI
A multifamily property located at 121 E 37th Street in Murray Hill has been sold for $8,700,000. The property spans 9,200 square feet and has a price per square foot of $945. It consists of 11 units, making it a lucrative investment opportunity in the neighborhood.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,700,000
- Square Footage: 9,200
- Price Per Square Foot: $945
- Address: 121 E 37th Street
- Market: Murray Hill
- Zoning: R8B
Kei Mastagna has acquired the property from Nathaniel Rahav in this transaction. Represented by Michael Sherman from Michael Sherman NYC and Shinya Sangu from Relo Redac Inc., both parties were able to reach a successful agreement.
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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93