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174 Forsyth St

L & M Development Partners Inc. Acquires 174 Forsyth St Multifamily From FEGS For $35M
SOLDMultiFamily

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

711,800 SF

Asset Type

MultiFamily

Closing

Feb 28, 2018

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:

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.

Players

Erik Yankelovich

Atlas Realty Group

Broker

$1.1B

vol

129 deals

Broker
L + M Development Partners Inc.
L + M Development Partners Inc.Buyer
F
FEGSSeller

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