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Isaac Abraham And Rami Ben-Yehuda Acquire 10-Unit Multifamily At 223 East 21st Street For $3.154M
SOLD
$3,154,000
New York
See Similar DealsMultiFamily6,962 SF
Sold 05/29/2025
SOLD
Isaac Abraham And Rami Ben-Yehuda Acquire 10-Unit Multifamily At 223 East 21st Street For $3.154M
223 East 21st Street
See Similar DealsMultiFamily6,962 SF
Sold 05/29/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$453
Total Square Footage:6,962 SF
Transaction Type:Sale
The property asset involved in the transaction is a multi-family building located at 223 East 21st Street in Gramercy Park, Manhattan. The sale price was $3,154,000 for a 10-unit walkup encompassing a total of 6,962 square feet. The price per unit was $315,400, and the price per square foot was $453.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,154,000
- Units: 10
- Square Footage: 6,962
- Price Per Unit: $315,400
- Price Per Square Foot: $453
- Buyer: Isaac Abraham & Rami Ben-Yehuda - Witnick Real Estate Partners
- Seller: Kazuku LLC
The deal was facilitated by Witnick Real Estate Partners, which represents Isaac Abraham and Rami Ben-Yehuda in this transaction. The property includes 1,742 square feet of air rights, enhancing its value and potential for future development.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,213.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,205.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,951.57
Annual Debt Service$179,418.83
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