Updated Nov 27, 2024
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
About this deal
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.
On the Map
MultiFamily
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New York MultiFamily Market Snapshot
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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