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
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