R.A. Cohen & Associates Sells 33-Unit Multifamily In Two Bridges For $14M
SOLD
$14,000,000
+ 1
New York
See Similar DealsMultiFamily21,258 SF
Sold 03/26/2020
SOLD
R.A. Cohen & Associates Sells 33-Unit Multifamily In Two Bridges For $14M
21 Catherine St, New York, NY 10038, USA
See Similar DealsMultiFamily21,258 SF
Sold 03/26/2020
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$658
Total Square Footage:21,258 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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