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Sabet Group Acquires SoHo Multifamily For $6.6M From Seller Thierry Bonnet

Property Image
SOLD
$6,600,000
Roberto Ortiz
AS
TB

New York

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MultiFamily135,000 SF
Sold 12/26/2019
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Property Image
SOLD

Sabet Group Acquires SoHo Multifamily For $6.6M From Seller Thierry Bonnet

171 6th Ave, New York, NY 10013, USA

See Similar Deals
MultiFamily135,000 SF
Sold 12/26/2019
Roberto Ortiz
AS
TB
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$48
Total Square Footage:135,000 SF
Transaction Type:Sale

A multifamily property located at 171 Sixth Avenue in SoHo was recently sold for $6,600,000. The property spans 13,500 square feet, resulting in a price per square foot of $488. The sale was completed on December 26, 2019.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $6,600,000
  • Address: 171 Sixth Avenue
  • Market: SoHo

The buyer in this transaction was the Sabet Group, represented by Alfred Sabet. The seller of the property was Thierry Bonnet. Roberto Ortiz, a broker, facilitated the deal.

Players

Roberto Ortiz
Roberto Ortiz
3 deals$28M volume
BROKER
AS
Alfred Sabet
4 deals$110M volume
BUYER
TB
Thierry Bonnet
2 deals$16.5M volume
SELLER

Details

SOLD
IMAGE: 12/26/2019 ADDRESS: 171 Sixth Avenue MARKET: SoHo ASSET TYPE: Multifamily PRICE: $6,600,000 SF: 13,500 PPSF: $488 BUYER: Sabet Group – Alfred Sabet SELLER: Thierry Bonnet BROKER: Roberto Ortiz

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$352,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
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