Updated Oct 29, 2024
LockHill Properties Acquires Multifamily In New York City For $10.8M
175 E 3rd St New York, NY 10009, USA
$10,800,000
$802/SF
Building Size
13,461 SF
Asset Type
MultiFamily
Closing
Jun 21, 2023
About this deal
AI
The multifamily property located at 175-177 East 3rd Street in New York City has been sold for a total price of $10,800,000. The property consists of 20 units, with a per unit price of $540,000. The total square footage of the property is 13,461, resulting in a price per square foot of $802.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,800,000
- Address: 175-177 East 3rd Street, New York City
- Market: New York City
- Buyer: LockHill Properties
- Brokers: Hall Oster, Teddy Galligan & Guthrie Garvin - JLL
The deal was facilitated by Hall Oster, Teddy Galligan, and Guthrie Garvin from JLL. They represented LockHill Properties in the transaction. They played a crucial role in ensuring a successful completion of the deal.
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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93