Updated Sep 5, 2024
Chok Lei Acquires Multifamily Property In Midtown East For $3.8M
221 East 48th Street, New York, NY 10017
$3,775,000
$701/SF
Building Size
5,380 SF
Asset Type
MultiFamily
Closing
Dec 21, 2021
About this deal
AI
An multifamily property located at 221 East 48th Street in Midtown East has been sold for a price of $3,775,000. The property consists of 5 units with a total square footage of 5,380. The price per unit was $755,000 and the price per square foot was $701.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,775,000
- Address: 221 East 48th Street
- Market: Midtown East
The buyer of the property was Chok Lei, while the seller was Jonathan Levine. The deal was facilitated by John Ciraulo, Craig Waggner, Will Conrad, Mike Kavanagh, and Damani Strasner, who were represented by the team Ciraulo & Waggner from Cushman & Wakefield.
On the Map
$3,775,000
$701/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Damani Strasner to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.20%
Cash-on-Cash
-1.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93