Investment Property Realty Group Facilitates $7.3M Sale Of Multifamily Property In New York City
SOLD
$7,300,000
New York
See Similar DealsMultiFamily6,000 SF
Sold 06/23/2023
SOLD
Investment Property Realty Group Facilitates $7.3M Sale Of Multifamily Property In New York City
1711 2nd Ave New York, NY 10128, USA
See Similar DealsMultiFamily6,000 SF
Sold 06/23/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,216
Total Square Footage:6,000 SF
Transaction Type:Sale
A multifamily property comprising of 8 units and 2 stores located at 1711 2nd Avenue in New York City has been sold in a closed transaction. The property spans across 6,000 square feet with a sale price of $7,300,000, resulting in a price per square foot of $1,217.
Summary of transaction details
- Property Type: Multifamily (8 Units & 2 Stores)
- Transaction Amount: $7,300,000
- Address: 1711 2nd Avenue, New York City
- Seller: Aryeh Realty - Andrew Aryeh & Brandon Aryeh
- Broker: Justin Zeitchik - Investment Property Realty Group (IPRG)
The seller of the property is Aryeh Realty, represented by Andrew Aryeh and Brandon Aryeh. The buyer was connected with Justin Zeitchik from Investment Property Realty Group (IPRG) to facilitate the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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