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Peter Ting Acquires Multifamily Property In Turtle Bay, Manhattan For $3.4M

Property Image
SOLD
$3,400,000
Ethan Frank
Adam Lobel
+ 2

New York

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MultiFamily33,030 SF
Sold 05/23/2019
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Property Image
SOLD

Peter Ting Acquires Multifamily Property In Turtle Bay, Manhattan For $3.4M

216 E 50th St, New York, NY 10022, USA

See Similar Deals
MultiFamily33,030 SF
Sold 05/23/2019
Ethan Frank
Adam Lobel
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$102
Total Square Footage:33,030 SF
Transaction Type:Sale

The multifamily property located at 216 East 50th St in Turtle Bay, Manhattan has been sold. The property spans 3,303 square feet and was sold for a total price of $3,400,000, resulting in a price per square foot of $1,029. The transaction took place on May 23, 2019.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,400,000
  • Square Footage: 3,303
  • Price Per Square Foot: $1,029
  • Address: 216 East 50th St, Turtle Bay, Manhattan
  • Market: Turtle Bay, Manhattan

In this transaction, the seller of the property was Frances Cousins, while the buyer was Peter Ting. Representing the deal were brokers Derek Bestreich, Hakeem Lecky, Adam Lobel, and Ethan Frank from the agency @BRG_CRE.

Players

Adam Lobel
137 deals$583.5M volume(314) 920-8639
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Ethan Frank
3 deals$20M volume(646) 690-1111
BROKER

Hakeem Lecky
Investment Property Realty Group (IPRG)
31 deals$91M volume
BROKER

Details

SOLD
IMAGE: Derek Bestreich, Hakeem Lecky, Adam Lobel & Ethan Frank DATE: 05/23/2019 ADDRESS: 216 East 50th St MARKET: Turtle Bay, Manhattan ASSET TYPE: Multifamily SALE PRICE: $3,400,000 SF: 3,303 PPSF: $1,029 SELLER: Frances Cousins BUYER: Peter Ting BROKERS: @BRG_CRE Derek Bestreich, Hakeem Lecky, Adam Lobel, Ethan Frank

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

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