Muschel Family Sells Multifamily Property In Hudson Heights For $14.6M
165 Bennett Avenue, New York City, New York 10040, United States
$14,625,000
$243/SF
Building Size
59,953 SF
Asset Type
MultiFamily
Closing
Dec 15, 2021
AI
The multifamily property located at 165 Bennett Avenue in Hudson Heights has been sold for a total price of $14,625,000. The transaction took place on December 15, 2021. The property spans a total area of 59,953 square feet, resulting in a price per square foot of $243. It consists of 79 units, and the price per unit is calculated to be $185,126.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,625,000
- Address: 165 Bennett Avenue
- Market: Hudson Heights
- Asset Type: Multifamily
- Zoning: R7-2
The sellers of the property are The Muschel Family. The deal was facilitated by Ryan Perkoski and Henry Grass of RPR Ventures, who represented the seller as brokers. They played an integral role in ensuring the successful completion of the transaction.
Players
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
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93