Slate Property Group Acquires Multi-Family Property In Manhattan For $13.9M
1762 1st Avenue, New York, NY 10128, USA
Building Size
2,350 SF
Asset Type
MultiFamily
Closing
Dec 10, 2017
AI
The multi-family property located at 1762-1764 1st Avenue in New York City has been sold in a closed transaction. The property was acquired by Slate Property Group for a price of $13,875,000. The seller of the property was the Gilardian Family, represented by Gilar Realty.
Summary of transation details
- Property Type: Multi-family
- Transaction Amount: $13,875,000
- Address: 1762-1764 1st Avenue, New York
- Market: Manhattan
The transaction was facilitated by @VCPRE's Yoel Sarraf, representing the Gilardian Family, and Ryan Sabet from Slate Property Group. Yoel Sarraf and Ryan Sabet played crucial roles as the brokers in this 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93