Metrozen Inc. Sells Multifamily Property On Rivington Street In New York City For $6.8M
SOLD
$6,800,000
New York
See Similar DealsMultiFamily8,240 SF
Sold 07/12/2023
SOLD
Metrozen Inc. Sells Multifamily Property On Rivington Street In New York City For $6.8M
157 Rivington St New York, Ny 10002, Usa
See Similar DealsMultiFamily8,240 SF
Sold 07/12/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$825
Total Square Footage:8,240 SF
Transaction Type:Sale
A multifamily property located at 157 Rivington Street in New York City has been sold for a price of $6,800,000. The property consists of 20 units, with an average price per unit of $340,000. The total square footage of the property is 8,240, resulting in a price per square foot of $825. The capitalization rate of the property is 6%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,800,000
- Address: 157 Rivington Street, New York City
- Market: New York City
- Units: 20
- Price per Unit: $340,000
- Total Square Footage: 8,240
- Price per Square Foot: $825
- Capitalization Rate: 6%
The seller of the property is Metrozen Inc., represented by Paul Jeanneret. The transaction was facilitated by brokers Eric Lupo, Joseph Smith, and Nadeem Haque from Friedman-Roth Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63
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