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21 Catherine St, New York, ...

R.A. Cohen & Associates Sells 33-Unit Multifamily In Two Bridges For $14M
SOLDMultiFamily

R.A. Cohen & Associates Sells 33-Unit Multifamily In Two Bridges For $14M

21 Catherine St, New York, NY 10038, USA

$14,000,000

$658/SF

Building Size

21,258 SF

Asset Type

MultiFamily

Closing

Mar 25, 2020

AI

Located in the Two Bridges neighborhood, the multifamily property at 21-23 Catherine Street has been sold for a total of $14,000,000. The property spans across 21,258 square feet with a price per square foot of $659. It consists of 33 units, resulting in a price per unit of $424,242.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $14,000,000
  • Square Footage: 21,258
  • Price per Square Foot: $659
  • Number of Units: 33
  • Price per Unit: $424,242

Peter Von Der Ahe, Joe Koicim, and Jared Bernstein of New York Multifamily served as the brokers for this transaction.

Players

Jared Bernstein

Marcus & Millichap

Broker

$99.6M

vol

13 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker

R.A. Cohen

Seller

$63.3M

vol

5 deals

Seller

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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93