Four Winds Acquires Murray Hill Multifamily For $32.75M With Brokers From JLL
SOLD
$32,750,000
+ 6
New York
See Similar DealsMultiFamily48,520 SF
Sold 11/22/2021
SOLD
Four Winds Acquires Murray Hill Multifamily For $32.75M With Brokers From JLL
138 East 38th Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily48,520 SF
Sold 11/22/2021
+ 6
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$675
Total Square Footage:48,520 SF
Transaction Type:Sale
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.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,746,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$116,353.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$155,251.71
Annual Debt Service$1,863,020.50
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