Updated Apr 9, 2025
L & M Development Partners Inc. Acquires 174 Forsyth St Multifamily From FEGS For $35M
174 Forsyth St, 184 Forsyth St, 620 East 13th St & 3285 Rombouts Ave
$35,000,000
$49/SF
Building Size
177,950 SF
Asset Type
MultiFamily
Closing
Feb 28, 2018
About this deal
AI
The asset involved in the transaction is a MultiFamily property located at 174 Forsyth St in New York. The property was sold for $35,000,000.00 and encompasses a total square footage of 177,950.0.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $35,000,000.00
- Address: 174 Forsyth St
- Market: New York
- Square Footage: 177,950.0
- Buyer: L + M Development Partners Inc.
- Seller: FEGS
- Broker Representatives: Kobi Zamir - GFI Realty Services, Erik Yankelovich - Atlas Realty Group, King Li
The deal was facilitated by three broker representatives: Kobi Zamir from GFI Realty Services, Erik Yankelovich from Atlas Realty Group, and King Li, who collectively played a role in the successful transaction between the buyer and the seller.
On the Map
$35,000,000
$49/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93