Westover Companies Acquires Multifamily Property In East Village For $56.75M
SOLD
$56,750,000
+ 1
New York
See Similar DealsMultiFamily67,741 SF
Sold 10/28/2022
SOLD
Westover Companies Acquires Multifamily Property In East Village For $56.75M
138 East 12th Street, New York City, New York 10003, United States
See Similar DealsMultiFamily67,741 SF
Sold 10/28/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$837
Total Square Footage:67,741 SF
Transaction Type:Sale
The multifamily property located at 138 E 12th Street in East Village has been sold for a price of $56,750,000. The transaction took place on 10/28/2022. The property consists of 85 units, with an average price per unit of $667,647. The total square footage of the property is 67,741, with a price per square foot of $838.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $56,750,000
- Units: 85
- Price per Unit: $667,647
- Total Square Footage: 67,741
- Price per Square Foot: $838
- Date: 10/28/2022
- Address: 138 E 12th Street
- Market: East Village
The sale was facilitated by JLL, with Steven Rutman, Rob Hinckley, Jeff Julien, and John Taylor representing the buyer, Westover Companies, and the seller, Wafra.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,026,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$201,620.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$269,023.95
Annual Debt Service$3,228,287.43
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