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220 East 49th Street

Robert Family Sells 10-Unit Multifamily Property In Turtle Bay, Manhattan For $3.5M
SOLDMultiFamily

Robert Family Sells 10-Unit Multifamily Property In Turtle Bay, Manhattan For $3.5M

220 East 49th Street

$3,500,000

$500/SF

Building Size

7,000 SF

Asset Type

MultiFamily

Closing

Nov 1, 2022

AI

The multifamily property located at 220 E 49th Street in Turtle Bay, Manhattan has been sold for a price of $3,500,000. The property consists of 10 units with an average price per unit of $350,000. The total square footage of the property is 7,000, resulting in a price per square foot of $500. The sellers of the property were The Robert Family.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,500,000
  • Address: 220 E 49th Street
  • Market: Turtle Bay, Manhattan

The sale of this multifamily property was facilitated by the brokers Michael Sherman from Baseline Real Estate Advisors and Tom Wexler from Leslie Garfield. They represented the buyers and sellers in this transaction.

Players

Michael Sherman

Baseline Real Estate Advisors

Broker

$785.1M

vol

45 deals

Broker

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

4.53%

Cash-on-Cash

-1.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93