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
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