John Ilibassi Acquires Multifamily Property In East Village For $10.7M
SOLD
$10,700,000
New York
See Similar DealsMultiFamily11,400 SF
Sold 10/22/2019
SOLD
John Ilibassi Acquires Multifamily Property In East Village For $10.7M
22 St Marks Pl, New York, NY 10003, USA
See Similar DealsMultiFamily11,400 SF
Sold 10/22/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$938
Total Square Footage:11,400 SF
Transaction Type:Sale
A multifamily property located at 22 St Marks Place in the East Village has been recently sold. The property consists of 22 units with a total square footage of 11,400. The sale price for this transaction was $10,700,000, resulting in a price per square foot of $938. The unit mix includes 10 rent-stabilized units, 10 free-market units, and 2 rent-controlled units. The cap rate for this property is 3.97%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,700,000
- Square Footage: 11,400
- Price per Square Foot: $938
- Units: 22
- Price per Unit: $486,364
- Cap Rate: 3.97%
- Unit Mix: 10 rent-stabilized units, 10 free-market units, 2 rent-controlled units
The buyer of this property is John Ilibassi, while the seller is Stefka Nazarkewycz.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$570,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51
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