Xiao Ling Yang Sells Multifamily Property At 179 Mott Street Nolita For $4.5M
179 Mott Street
$4,500,000
$954/SF
Building Size
4,716 SF
Asset Type
MultiFamily
Closing
Oct 31, 2024
AI
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:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Units: 3
- Square Feet: 4,716
- Price Per Unit: $1,500,000
- Price Per Square Foot: $954
- Seller: Xiao Ling Yang
- Brokerage: Marcus & Millichap
- Brokers: Chris Dintrone, Peter Dodge & Joseph Koicim
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
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93