Updated Oct 28, 2024
Four Winds Acquires Murray Hill Multifamily For $32.75M With Brokers From JLL
138 East 38th Street, Manhattan, New York, NY, USA
$32,750,000
$675/SF
Building Size
48,520 SF
Asset Type
MultiFamily
Closing
Nov 21, 2021
About this deal
AI
A multifamily property located at 138 E. 38th Street in Murray Hill, Manhattan has been sold. The property consists of 81 units, with a total square footage of 48,520. The sale price for this transaction was $32,750,000, resulting in a price per unit of $404,320 and a price per square foot of $674.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,750,000
- Units: 81
- Price per Unit: $404,320
- Square Footage: 48,520
- Price per Square Foot: $674
The buyer in this transaction was Four Winds represented by Josh Landau and David Schneiderman. The seller was Bi-Coastal Management. The deal was facilitated by brokers Bob Knakal, Stephen Palmese, Clint Olsen, Ethan Stanton, Jonathan Hageman, Stephen Godnick, and Jacob Russell from JLL.
On the Map
$32,750,000
$675/SF
MultiFamily
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93