Jason Glick Of GPG Properties Sells Multifamily Asset In Upper East Side For $15.3M
220 East 85th Street & 222 East 85th Street
$15,300,000
$364/SF
Building Size
41,940 SF
Asset Type
MultiFamily
Closing
Aug 14, 2024
AI
The property asset involved in the transaction is located at 220 East 85th Street & 222 East 85th Street in the Upper East Side market. This multifamily asset consists of 32 units with a sale price of $15,300,000, which results in a price per unit of $478,125. The total square footage of the property is 20,970, equating to a price per square foot of $729.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,300,000
- Units: 32
- Price per Unit: $478,125
- Total Square Footage: 20,970
- Price per Square Foot: $729
- Seller: Jason Glick - GPG Properties
- Broker: Brett Weisblum - Cushman & Wakefield
- Transaction Date: 08/14/2024
This transaction highlights the role of Jason Glick from GPG Properties as the seller, while the brokerage services were provided by Brett Weisblum from Cushman & Wakefield. The deal adds to the market activity in the Upper East Side area.
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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93