Updated Oct 29, 2024
Kanden Realty & Development Acquires Multifamily Property In Carnegie Hill, Manhattan For $16.4M
174 East 85th Street, New York City, New York 10028, United States
$16,400,000
$820,000/SF
Building Size
20 SF
Asset Type
MultiFamily
Closing
Dec 16, 2022
About this deal
AI
A multifamily property located at 174 East 85th Street in Carnegie Hill, Manhattan has been sold for a total price of $16,400,000. The property consists of 20 units, with each unit having an average price of $820,000. The total square footage of the property is 20,680, resulting in a price per square foot of $793.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $16,400,000
- Address: 174 East 85th Street
- Market: Carnegie Hill, Manhattan
- Buyer: Kanden Realty & Development
- Seller: Akio Hatano
- Units: 20
- Price Per Unit: $820,000
- Square Footage: 20,680
- Price Per Square Foot: $793
The buyer in this transaction is Kanden Realty & Development and the seller is Akio Hatano.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93