Churchchill Real Estate Holdings Acquires Multi Family Property In Manhattan For $18.2M
167 E 62nd St, New York, NY 10065, USA
Building Size
190,360 SF
Asset Type
MultiFamily
Closing
Mar 1, 2018
AI
The multi-family property located at 163 and 167 East 62nd Street in New York City was recently sold for a price of $18,211,730. The property has a total square footage of 19,036 and a price per square footage of $956. This sale was part of a closed transaction in the Manhattan market.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $18,211,730
- Address: 163 and 167 East 62nd Street, New York
- Market: Manhattan
- Total Square Footage: 19,036
- Price per Square Footage: $956
The seller of the property was MPE, represented by Michael Paul. On the other hand, Churchchill Real Estate Holdings, represented by Justin Ehrlich, Sorabh Maheshwari, and Gary Podell, acted as the buyer in the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93