Stone Street Properties Sells Multifamily Property In Flatiron District For $25.9M
SOLD
$25,900,000
New York
See Similar DealsMultiFamily20,258 SF
Sold 07/01/2022
SOLD
Stone Street Properties Sells Multifamily Property In Flatiron District For $25.9M
16 East 18th Street, New York City, New York 10003, United States
See Similar DealsMultiFamily20,258 SF
Sold 07/01/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,278
Total Square Footage:20,258 SF
Transaction Type:Sale
A multifamily property located at 16 East 18th Street in the Flatiron District has been sold for $25,900,000. The property consists of 8 units with a total square footage of 20,258. The sale price per unit is $3,237,500, and the price per square foot is $1,278.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,900,000
- Address: 16 East 18th Street
- Market: Flatiron District
- Buyer: Lender Revere Capital - Brigitte Harley
- Seller: Stone Street Properties
- Units: 8
- Price Per Unit: $3,237,500
- Square Footage: 20,258
- Price Per Square Foot: $1,278
The buyer's representative in the transaction is Lender Revere Capital - Brigitte Harley. The seller is Stone Street Properties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,381,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,017.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$122,779.21
Annual Debt Service$1,473,350.56
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