Updated Sep 24, 2026
@HUBBNYC Acquires Multifamily Property In Chelsea For $7.4M
202 9th Ave, New York, NY 10011, USA
$7,400,000
$1,019/SF
Building Size
7,256 SF
Asset Type
MultiFamily
Closing
Aug 19, 2019
About this deal
AI
The multifamily property located at 202 Ninth Avenue in Chelsea has been sold in a closed transaction. The property spans an area of 7,256 square feet and has been sold for a total of $7,400,000, with an asking price of $8,000,000. This translates to a price per square foot of $1019.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,400,000
- Address: 202 Ninth Avenue, Chelsea
- Market: Chelsea
- Seller: JP Thompson
- Buyer: @HUBBNYC – Johnny McCarthy, Jesse Terry
- Brokers: Peter Von Der Ahe, Joe Koicim, Logan Markley, Danny Handweiler
The deal involved several key individuals and companies. The buyer, @HUBBNYC, was represented by Johnny McCarthy and Jesse Terry. The seller, JP Thompson, enlisted the services of brokers Peter Von Der Ahe, Joe Koicim, Logan Markley, and Danny Handweiler. They were instrumental in facilitating the transaction.
On the Map
$7,400,000
$1,019/SF
MultiFamily
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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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93