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

Property Image
SOLD
$35,000,000
Kobi Zamir
Erik Yankelovich

New York

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MultiFamily711,800 SF
Sold 02/28/2018
the dealplayerscompscontact
Property Image
SOLD

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

See Similar Deals
MultiFamily711,800 SF
Sold 02/28/2018
Kobi Zamir
Erik Yankelovich
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$49
Total Square Footage:711,800 SF
Transaction Type:Sale

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
Erik Yankelovich
128 deals$1.1B volume
BROKER
Kobi Zamir
GFI Realty Services
Kobi Zamir
11 deals$77.3M volume
BROKER
KL
GFI Realty Services
King Li
1 deal
BROKER
L + M Development Partners Inc.
L + M Development Partners Inc.
BUYER
F
FEGS
SELLER

Details

SOLD
IMAGE: 02/28/2018 ADDRESS: 174 Forsyth St MARKET: New York ASSET TYPE: MultiFamily BROKERS: Kobi Zamir(GFI Realty Services), Erik Yankelovich(Atlas Realty Group), King Li() BUYER: L + M Development Partners Inc. SELLER: FEGS PRICE: $35,000,000.00 SF: 177950.0

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

$1,866,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27