Benchmark Real Estate Group Acquires 49-Unit Multifamily In New York City For $26.85M
SOLD
$26,850,000
+ 1
New York
See Similar DealsMultiFamily25,875 SF
Sold 06/28/2023
SOLD
Benchmark Real Estate Group Acquires 49-Unit Multifamily In New York City For $26.85M
146 10th Avenue
See Similar DealsMultiFamily25,875 SF
Sold 06/28/2023
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,037
Total Square Footage:25,875 SF
Transaction Type:Sale
Located at 146-150 Tenth Avenue in New York City, this multi-family property was recently sold in a closed transaction. The sale was facilitated by Logan Markley, Joe Koicim, Shaun Riney, and Chris Dintrone of Marcus & Millichap. The property was acquired by Benchmark Real Estate Group for a total sale price of $26,850,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $26,850,000
- Address: 146-150 Tenth Avenue, New York City
- Market: New York City
- Buyer: Benchmark Real Estate Group
- Brokers: Logan Markley, Joe Koicim, Shaun Riney, and Chris Dintrone - Marcus & Millichap
The property consists of 49 units with a price per unit (PPU) of $547,959. It spans a total area of 25,875 square feet, resulting in a price per square foot (PPSF) of $1,038.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,432,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,392.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,282.70
Annual Debt Service$1,527,392.38
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