facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

211 West 85th Street

Movcap Acquires Multifamily Asset On Upper West Side For $5.25M
SOLDMultiFamily

Movcap Acquires Multifamily Asset On Upper West Side For $5.25M

211 West 85th Street

$5,250,000

Building Size

Asset Type

MultiFamily

Closing

Jan 29, 2024

AI

The multifamily property located at 211 West 85th Street in the Upper West Side has been sold for a total price of $5,250,000. The property consists of 13 units, with an average price per unit of $403,846. The total square footage of the property is 13,015, with an average price per square foot of $403.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $5,250,000
  • Units: 13
  • Price Per Unit: $403,846
  • Square Footage: 13,015
  • Price Per Square Foot: $403

The buyer of the property is Lawrence Movtady from Movcap. The sale was facilitated by brokers Hall Oster, Paul Smadbeck, Conrad Martin, Braedon Gait, and Teddy Galligan from JLL. The seller's counsel in the transaction was Bryan P. McCrossen from Jaspan Schlesinger Narendran LLP.

Players

Hall Oster

JLL

Broker

$2.2B

vol

90 deals

Broker
Lawrence Movtady

Lawrence Movtady

Movcap

Buyer

$120.8M

vol

9 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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