Jeffrey Kaplan Acquires Multifamily Properties In Chelsea, Manhattan For $23M
203 10th Avenue & 205 10th Avenue
$23,000,000
$502/SF
Building Size
45,740 SF
Asset Type
MultiFamily
Closing
Sep 7, 2023
AI
Meadow Partners, represented by Jeffrey Kaplan, acquired multiple residential walkup buildings in Chelsea, Manhattan, for a total of $23 million. The properties, located at 203 10th Avenue and 205 10th Avenue, offer a combined built space of 22,870 square feet. The sale price per square foot was $1,006.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Buyer: Jeffrey Kaplan - Meadow Partners
- Seller: Robert Morgenstern
- Address: 203 10th Avenue & 205 10th Avenue
- Market: Chelsea, Manhattan
Jeffrey Kaplan, representing Meadow Partners, was the buyer in this transaction. Robert Morgenstern was the seller. The acquisition of the residential walkup buildings in Chelsea, Manhattan, highlights Kaplan's investment in the multifamily sector.
Players
Holtsville 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93