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178 Covert Street

Updated Sep 9, 2024

Greenbrook Partners & Carlyle Group Acquire Multifamily Property On Covert Street In New York City For $1.8M
SOLDMultiFamily

Greenbrook Partners & Carlyle Group Acquire Multifamily Property On Covert Street In New York City For $1.8M

178 Covert Street

$1,845,000

$763/SF

Building Size

2,418 SF

Asset Type

MultiFamily

Closing

Jan 10, 2023

About this deal

AI

The multifamily property located at 178 Covert Street in New York City has been sold in a closed transaction. The property spans 2,418 square feet and was sold for a price of $1,845,000, resulting in a price per square foot of $763.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,845,000
  • Square Footage: 2,418
  • Address: 178 Covert Street, New York City
  • Market: New York City

The buyers of the property are Greenbrook Partners and Carlyle Group. The seller in this transaction was Natalia Harvey. The deal was facilitated by two brokers: David Chang from Compass and Daniel Cohen from The Corcoran Group.

Players

David Chang

Compass

Broker

$211.7M

vol

46 deals

Broker

Natalia Harvey

Seller

$24.7M

vol

7 deals

Seller

New York City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $763 per square foot on a published $1.8M for 2,418 square feet (2023).

Visit David Chang to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.60%

Cash-on-Cash

-2.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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