Richard Herman Acquires Apartment In Washington Heights, Manhattan From Michael Mirotznik For $7.775M
160 Audubon Avenue, New York City, New York 10032, United States
$7,775,000
$171/SF
Building Size
45,400 SF
Asset Type
MultiFamily
Closing
Mar 15, 2022
AI
An apartment located at 160 Audubon Avenue in Washington Heights, Manhattan, has recently been sold in a closed transaction. The property, zoned as R7-2, is an apartment building with a bulk square footage (BSF) of 34,400. The price of the transaction amounted to $7,775,000, resulting in a price per bulk square footage (PPBSF) of $226. The apartment building spans across 45,400 square feet, with a price per square foot (PPSF) of $171. The transaction took place on March 16, 2022.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $7,775,000
- Address: 160 Audubon Avenue, Washington Heights, Manhattan
- Market: Washington Heights, Manhattan
- Zoning: R7-2
- Buyer: Richard Herman
- Seller: Michael Mirotznik
- BSF: 34,400
- PPBSF: $226
- SF: 45,400
- PPSF: $171
- Date: March 16, 2022
The apartment building has a floor area ratio (FAR) of 4.54 and falls under tax class 2. The lot size is 10,000 square feet, with a lot dimension of 100 ft x 100 ft. An alteration permit was obtained on April 17, 2017, indicating changes made to the property.
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
2.04%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93