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122 Ludlow St, New York, NY...

Abraham Sanieoff Acquires Multifamily Property On Ludlow Street For $21.5M
SOLDMultiFamily

Abraham Sanieoff Acquires Multifamily Property On Ludlow Street For $21.5M

122 Ludlow St, New York, NY 10002, USA

$21,500,000

$102/SF

Building Size

210,000 SF

Asset Type

MultiFamily

Closing

May 27, 2019

AI

Located in the Lower East Side market, the multifamily property at 122-124 Ludlow Street recently closed in a transaction with an asking price and sale price of $21,500,000. The property has a total square footage of 21,000 and a price per square foot of $1,023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $21,500,000
  • Address: 122-124 Ludlow Street
  • Market: Lower East Side
  • Square Footage: 21,000
  • Price Per Square Foot: $1,023

Representing the seller in this deal was Peter Von Der Ahe of an undisclosed agency, while Joe Koicim also played a role as the broker representing the seller. The buyer of the property was Abraham Sanieoff. No further details about the seller or buyer were provided.

Players

Peter Von Der Ahe

Marcus & Millichap

Broker

$1.4B

vol

110 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker

Alan Luke

Seller

$52.6M

vol

5 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

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93