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160 Audubon Avenue, New Yor...

Richard Herman Acquires Apartment In Washington Heights, Manhattan From Michael Mirotznik For $7.775M
SOLDMultiFamily

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.

Players

Richard Herman

Prana Investments

Buyer

$48.2M

vol

6 deals

Buyer

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