Updated Dec 21, 2023
Marcus & Millichap Brokers Sell Lower East Side Multifamily For $3.43M
221 Madison Street, New York City, New York 10002, United States
$3,430,000
$300/SF
Building Size
11,430 SF
Asset Type
MultiFamily
Closing
Jan 14, 2022
About this deal
AI
Located in the Lower East Side, the multifamily property at 221 Madison Street has recently been sold. Joe Koicim, Seth Glasser, and Matt Berger of Marcus & Millichap represented the deal as brokers. The transaction took place on January 14, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,430,000
- Address: 221 Madison Street
- Market: Lower East Side
The property consists of 22 units, with a price per unit (PPU) of $155,909. The total area spans 11,430 square feet, resulting in a price per square foot (PPSF) of $300.
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
4.62%
Cash-on-Cash
-1.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93