Updated Oct 28, 2024
Corner Street Capital And Highpoint Property Group Acquire Multifamily Property In Murray Hill For $5.25M
211-213 East 31st Street, New York City, New York 10016, United States
$5,250,000
$583/SF
Building Size
9,000 SF
Asset Type
MultiFamily
Closing
May 9, 2022
About this deal
AI
Located in Murray Hill, the multifamily property at 211-213 E. 31st St. has been sold in a recent transaction. The property spans across 9,000 square feet and consists of 16 units. The sale price for this property was $5,250,000, resulting in a price per unit of $328,125 and a price per square foot of $583.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,250,000
- Units: 16
- Price per Unit: $328,125
- Square Footage: 9,000
- Price per Square Foot: $583
The buyer in this transaction is Corner Street Capital represented by Ross Banon, along with Highpoint Property Group represented by Drew Popkin. On the other hand, the seller is Empire Management. Michael Segerman from Current Real Estate Advisors served as the broker in this deal.
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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93