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178 Covert Street

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

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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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