Updated Oct 29, 2024
Emerald Equity Group Acquires 1661 Park Ave Multifamily In New York For $24.8M
1661 Park Ave, New York, NY, 10035
$24,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is a MultiFamily asset located at 1661 Park Ave, New York, NY, 10035. The transaction was executed at a price of $24,800,000.00 within the New York market.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $24,800,000.00
- Seller's Representatives: Matthew "Matt" Gillis - Ariel Property Advisors, Michael Tortorici - Ariel Property Advisors
- Buyer: Emerald Equity Group
This transaction involved key individuals from Ariel Property Advisors representing the sellers. Matthew "Matt" Gillis and Michael Tortorici played significant roles in facilitating the sale to Emerald Equity Group.
On the Map
$24,800,000
MultiFamily
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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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93