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1910 Benedict Avenue

Updated Sep 9, 2024

Sonny Vitaj Acquires Multifamily Property In New York City For $2.42M
SOLDMultiFamily

Sonny Vitaj Acquires Multifamily Property In New York City For $2.42M

1910 Benedict Avenue

$2,420,000

$114/SF

Building Size

21,220 SF

Asset Type

MultiFamily

Closing

Mar 14, 2023

About this deal

AI

The multifamily property located at 1910 Benedict Avenue in New York City has been sold in a recent transaction. The property consists of 23 units with a price per unit of $105,217. The total square footage of the property is 21,220, with a price per square foot of $114. The sale price for the property was $2,420,000.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $2,420,000
  • Units: 23
  • Price per Unit (PPU): $105,217
  • Square Footage: 21,220
  • Price per Square Foot (PPSF): $114

Sonny Vitaj has purchased the property from David Federline. Richard Guarino from Friedman-Roth Realty represented both parties in the transaction. Throughout the deal, Langsam Property Services managed the building for over 45 years, and Tracey Daniels Esq. provided excellent legal assistance. A special thanks goes to them for their contributions to the successful completion of this transaction.

Friedman Roth is currently hiring Sales Associates. For more information, please contact [email protected] or [email protected].

Players

Richard Guarino

Friedman-Roth Realty

Broker

$313.1M

vol

53 deals

Broker

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $114 per square foot on a published $2.4M for 21,220 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.55%

Cash-on-Cash

-1.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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