LockHill Properties Acquires Multifamily In New York City For $10.8M
SOLD
$10,800,000
New York
See Similar DealsMultiFamily13,461 SF
Sold 06/21/2023
SOLD
LockHill Properties Acquires Multifamily In New York City For $10.8M
175 E 3rd St New York, NY 10009, USA
See Similar DealsMultiFamily13,461 SF
Sold 06/21/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$802
Total Square Footage:13,461 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$576,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,370.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,197.51
Annual Debt Service$614,370.12
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