David Marks Acquires MultiFamily Property In New York City For $3.5M
SOLD
New York
See Similar DealsMultiFamily3,628 SF
Sold 02/28/2023
SOLD
David Marks Acquires MultiFamily Property In New York City For $3.5M
153 E 37th St New York, NY 10016, USA
See Similar DealsMultiFamily3,628 SF
Sold 02/28/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$964
Total Square Footage:3,628 SF
Transaction Type:Sale
The property asset involved in this transaction is a MultiFamily located at 153 East 37th Street in the New York City market. The sale price was $3,500,000, covering 3,628 square feet with 8 units. The price per unit was $437,500 and the price per square foot was $965.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,500,000
- Address: 153 East 37th Street
- Market: New York City
- Units: 8
- Price Per Unit: $437,500
- Square Footage: 3,628
- Price Per Square Foot: $965
- Buyer: David Marks
- Seller: Robert Kantor
- Brokers: Sachin Surujpaul & Romena Surujpaul
The key individuals in this transaction include buyer David Marks and seller Robert Kantor, who completed this deal with the assistance of brokers Sachin Surujpaul and Romena Surujpaul, representing the respective parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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