Updated Oct 28, 2024
Two Rivers Property Group Acquires Multifamily Property In Kips Bay For $5.7M
210 East 31st Street, New York City, New York 10016, United States
$5,700,000
$509/SF
Building Size
11,179 SF
Asset Type
MultiFamily
Closing
Dec 22, 2021
About this deal
AI
A multifamily property located at 208-210 East 31st Street in Kips Bay has been sold for $5,700,000. The property consists of 11,580 units, with a price per unit of $492. The total square footage of the property is 18, with a price per square foot of $316,666. The sale took place on December 22, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,700,000
- Units: 11,580
- Price Per Unit: $492
- Square Footage: 18
- Price Per Square Foot: $316,666
- Address: 208-210 East 31st Street, Kips Bay
- Date: December 22, 2021
The buyer of the property is Two Rivers Property Group, represented by Parke Leatherman and Steven Lusby. The seller is Arlene Lestingi.
On the Map
$5,700,000
$509/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93