Updated Oct 25, 2024
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
About this deal
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