Benchmark Real Estate Group Acquires Multifamily Property In East Village For $4.7M
SOLD
$4,675,000
New York
See Similar DealsMultiFamily7,280 SF
Sold 07/10/2020
SOLD
Benchmark Real Estate Group Acquires Multifamily Property In East Village For $4.7M
17 E 7th St, New York, NY 10003, USA
See Similar DealsMultiFamily7,280 SF
Sold 07/10/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$642
Total Square Footage:7,280 SF
Transaction Type:Sale
The multifamily property located at 17 East 7th Street in the East Village has been sold for a price of $4,675,000. The property spans across 7,280 square feet, resulting in a price per square foot of $642. The transaction involved a total of 20 units, with each unit being sold at an average price of $233,750.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,675,000
- Address: 17 East 7th Street
- Market: East Village
- Square Footage: 7,280
- Price per Square Foot: $642
- Number of Units: 20
- Price per Unit: $233,750
The seller of the property was the Estate of Carl Wallman, while the buyer was Benchmark Real Estate Group. Representing the buyer in the deal was George Niblock from BrickCap Group and FriedmanRot. Eric Lupo served as the seller's representative in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$249,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,609.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,161.89
Annual Debt Service$265,942.62
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