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220 East 85th Street

Jason Glick Of GPG Properties Sells Multifamily Asset In Upper East Side For $15.3M
SOLDMultiFamily

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.

Players

Brett Weisblum

Cushman & Wakefield

Broker

$142.5M

vol

16 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

1.04%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93