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19 East 71st Street

Gary Rubin Sells Multifamily Property At 19 East 71st Street In Lenox Hill For $10M
SOLDMultiFamily

Gary Rubin Sells Multifamily Property At 19 East 71st Street In Lenox Hill For $10M

19 East 71st Street

$10,000,000

$985/SF

Building Size

10,145 SF

Asset Type

MultiFamily

Closing

May 1, 2025

AI

The property asset involved in the transaction is a multifamily building located at 19 East 71st Street in the Lenox Hill neighborhood of Manhattan. The sale price for this asset was $10,000,000, consisting of 9 units. The total square footage of the property is 10,145, resulting in a price per unit of $1,111,111 and a price per square foot of $985.

Summary of transaction details:

The transaction was facilitated by broker representatives Joseph Koicim, Logan Markley, and Kory Barbanel from Marcus & Millichap, who were involved in representing the seller, Gary Rubin, throughout the process.

Players

Logan Markley

Marcus & Millichap

Broker

$970.7M

vol

70 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker

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

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93