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Steven M. Bari Of JPB Enterprises Acquires Multifamily Asset From Steven Forkosh For $7.3M
SOLD
$7,300,000
New York
See Similar DealsMultiFamily8,450 SF
Sold 10/09/2025
SOLD
Steven M. Bari Of JPB Enterprises Acquires Multifamily Asset From Steven Forkosh For $7.3M
130 East 61st Street
See Similar DealsMultiFamily8,450 SF
Sold 10/09/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$863
Total Square Footage:8,450 SF
Transaction Type:Sale
A nine-unit residential walkup located at 130 East 61st Street in the Lenox Hill market was sold for $7.3 million. The asset has a total square footage of 8,450 and a price per square foot of $864, which translates to a price per unit of $811,111.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $7,300,000
- Units: 9
- Square Footage: 8,450
- Price per Unit: $811,111
- Price per Square Foot: $864
- Buyer: Steven M. Bari - JPB Enterprises
- Seller: Steven Forkosh - Forkosh Development Group
- Sale Date: 10/09/2025
Steven M. Bari, representing JPB Enterprises, completed the purchase from seller Steven Forkosh, who represents Forkosh Development Group. The transaction reflects the ongoing activity in the multifamily market within Lenox Hill.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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