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167 E 62nd St, New York, NY...

Churchchill Real Estate Holdings Acquires Multi Family Property In Manhattan For $18.2M
SOLDMultiFamily

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