Updated Sep 24, 2026
Benchmark Real Estate Group Acquires Multifamily In East Village For $43M
194 East 2nd Street
$43,000,000
$558/SF
Building Size
77,000 SF
Asset Type
MultiFamily
Closing
Apr 22, 2024
About this deal
AI
The multifamily property located at 194 East 2nd Street in the East Village, Manhattan was sold for $43,000,000. Spanning 77,000 square feet, the asset was acquired at a price per square foot of $558, showcasing a 5.7% cap rate. The transaction involved Benchmark Real Estate Group as the buyers and as the sellers.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Buyer: Jordan Vogel & Aaron Feldman - Benchmark Real Estate Group
- Seller:
- Brokers: Joe Koicim, Logan Markley & Matt Berger - Marcus & Millichap
- Address: 194 East 2nd Street
- Market: East Village, Manhattan
- SF: 77,000
- PPSF: $558
- CAP RATE: 5.7%
The sale was facilitated by brokers Joe Koicim, Logan Markley, and Matt Berger from Marcus & Millichap. Joe Koicim and the NYM Group have successfully concluded 16 building sales in the East Village, amounting to around $170M within the past year. For those interested, there are several properties currently available on the market or soon to be listed by the team, and they welcome inquiries for sales or rental comps to provide real-time data.
On the Map
$43,000,000
$558/SF
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93