John Ilibassi Acquires Multifamily Property In East Village For $10.7M
22 St Marks Pl, New York, NY 10003, USA
$10,700,000
$938/SF
Building Size
11,400 SF
Asset Type
MultiFamily
Closing
Oct 21, 2019
AI
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.
Players
Stony Brook 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
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93