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Xiao Ling Yang Sells Multifamily Property At 179 Mott Street Nolita For $4.5M

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SOLD
$4,500,000

New York

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MultiFamily4,716 SF
Sold 10/31/2024
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Property Image
SOLD

Xiao Ling Yang Sells Multifamily Property At 179 Mott Street Nolita For $4.5M

179 Mott Street

See Similar Deals
MultiFamily4,716 SF
Sold 10/31/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$954
Total Square Footage:4,716 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 179 Mott Street in the Nolita market. It was sold for a total price of $4,500,000, comprising 3 residential units. The building has a total square footage of 4,716, resulting in a price per square foot of $954, and a price per unit of $1,500,000.

Summary of transaction details:

The deal involved key representatives from Marcus & Millichap, specifically Chris Dintrone, Peter Dodge, and Joseph Koicim, who facilitated the transaction on behalf of the seller, Xiao Ling Yang.

Players

Joseph (Joe) Koicim
172 deals$2.7B volume(212) 430-5147
BROKER

Peter Dodge
Marcus & Millichap
21 deals$203.4M volume(212) 430-5231
BROKER

Chris Dintrone
Marcus & Millichap
4 deals$139.7M volume(212) 430-5273
BROKER

Details

SOLD
IMAGE: Chris Dintrone, Joseph Koicim & Peter Dodge DATE: 10/31/2024 ADDRESS: 179 Mott Street MARKET: Nolita ASSET TYPE: Multifamily SELLER: Xiao Ling Yang BROKERS: Chris Dintrone (@Chris_Dintrone), Peter Dodge (@PxDodge) & Joseph Koicim (@Joey1Cap) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $4,500,000 UNITS: 3 ~ PPU: $1,500,000 SF: 4,716 ~ PPSF: $954

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55