Updated Dec 21, 2023
Moon Jung Choi Acquires Apartment Building In Yorkville, Manhattan For $9.25M
179 East 80th Street, New York, NY, USA
$7,000,000
$1,521/SF
Building Size
4,600 SF
Asset Type
MultiFamily
Closing
Feb 11, 2021
About this deal
AI
An apartment building located at 1435 Third Avenue in Yorkville, Manhattan has been sold in a transaction on March 14, 2022. The property is zoned as C1-9 and has a lot size of 2,626 square feet. The building has a total square footage of 26,260 and a price per square foot of $352. The total square footage of the unit itself is 9,874 with a price per square foot of $936. The transaction was completed at a price of $9,250,000.
Summary of transaction details
- Property Type: Apartment Building
- Transaction Amount: $9,250,000
- Market: Yorkville, Manhattan
- Zoning: C1-9
The buyer in this transaction is Moon Jung Choi, while the seller is Alan Manocherian. The building has a floor area ratio (FAR) of 3.76 and is classified under tax class 2. The permits for alterations to the property were obtained on September 30, 2021. The lot dimensions are 25.58 feet by 101.67 feet.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93