SOLDMultiFamily
Lee Rothman Acquires 16,100 SF Multifamily Property In Manhattan For $11.1M
343 E 76th St, New York, NY 10021, USA
Building Size
1,200 SF
Asset Type
MultiFamily
Closing
Jul 5, 2018
AI
The multi-family property located at 1485 1st Avenue in Manhattan was recently sold for $11,100,000. With a total square footage of 16,100 sf, the property was valued at approximately $689 per square foot.
Summary of transaction details
- Property Type: MultiFam
- Transaction Amount: $11,100,000
- Address: 1485 1st Avenue, New York
- Cross Streets: 77th & 1st Ave
- Market: Manhattan
The seller of the property was Blackstone represented by Stephen Schwartzman and Jon Gray. The buyer, on the other hand, was Lee Rothman.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93