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170 1st Avenue, New York Ci...

Updated Dec 19, 2023

Moshe Khoshkheraman Acquires Apartment Building In East Village, Manhattan For $4M
SOLDMultiFamily

Moshe Khoshkheraman Acquires Apartment Building In East Village, Manhattan For $4M

170 1st Avenue, New York City, New York 10009, United States

$4,000,000

$588/SF

Building Size

6,796 SF

Asset Type

MultiFamily

Closing

Mar 20, 2022

About this deal

AI

An apartment building located at 170 1 Avenue in the East Village neighborhood of Manhattan has been sold. The property, which is zoned as R7A, was sold for a price of $4,000,000. It has a total area of 6,796 square feet, resulting in a price per square foot of $588. The lot size of the property is 2,225 square feet, with dimensions of 23.67 feet by 94 feet. The seller, Pasquale J. Coppolecchia, completed an alteration permit for the property on July 10, 2009.

Summary of transaction details

  • Property Type: Apartment Building
  • Transaction Amount: $4,000,000
  • Market: East Village, Manhattan
  • Buyer: Moshe Khoshkheraman
  • Seller: Pasquale J. Coppolecchia
  • Lot Size: 2,225 square feet
  • Zoning: R7A
  • Permits: Alteration 2 (07/10/2009)

The buyer, Moshe Khoshkheraman, acquired the apartment building located at 170 1 Avenue. The transaction was completed on 03/21/2022. The deal was facilitated by the seller's representative, Pasquale J. Coppolecchia's broker.

Players

Moshe Khoshkheraman

Buyer

$37.2M

vol

5 deals

Buyer

Pasquale J. Coppolecchia

Seller

$32.1M

vol

3 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $588 per square foot on a published $4M for 6,796 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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