Davean Holdings Acquires Multifamily Property In East Village For $25.5M
SOLD
$25,500,000
New York
See Similar DealsMultiFamily
Sold 08/10/2022
SOLD
Davean Holdings Acquires Multifamily Property In East Village For $25.5M
163 1st Avenue, New York City, New York 10003, United States
See Similar DealsMultiFamily
Sold 08/10/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 163, 165, and 167 First Avenue in the East Village has been sold for a total of $25,500,000. The sale took place on 08/10/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $25,500,000
- Market: East Village
The buyer of the property was Davean Holdings, while the seller was the Halegula Family. The transaction was facilitated by Ben Khakshoor, Aaron Jungreis, and Alex Fuchs from Rosewood Realty Group, who represented both the buyer and the seller in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,360,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11
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