Rick Herman Acquires Washington Heights Multifamily For $10.15M
SOLD
$10,150,000
+ 1
New York
See Similar DealsMultiFamily49,322 SF
Sold 03/11/2020
SOLD
Rick Herman Acquires Washington Heights Multifamily For $10.15M
1314 Riverside Dr, New York, NY 10033, USA
See Similar DealsMultiFamily49,322 SF
Sold 03/11/2020
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$205
Total Square Footage:49,322 SF
Transaction Type:Sale
The multifamily property located at 1314 Riverside Dr in Washington Heights has been sold for a total of $10,150,000. The property spans a total area of 49,322 square feet, resulting in a price per square foot of $223. This transaction involved a total of 64 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,150,000
- Square Footage: 49,322
- Price Per Square Foot: $223
- Number of Units: 64
Rick Herman has acquired the property as the buyer in this transaction. The deal was facilitated by the brokers Peter Von Der Ahe, Seth Glasser, and Jacob Kahn from NewYorkMultifamily.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$541,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,060.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,116.18
Annual Debt Service$577,394.14
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