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223 East 89th Street, New Y...

Jose Serruya Acquires Multifamily Property In UES For $11.95M
SOLDMultiFamily

Jose Serruya Acquires Multifamily Property In UES For $11.95M

223 East 89th Street, New York, NY 10128

$11,950,000

$1,141/SF

Building Size

10,471 SF

Asset Type

MultiFamily

Closing

Jun 27, 2019

AI

Located at 223 East 89th Street on the Upper East Side, this multifamily property was recently sold in a closed transaction. The property encompasses approximately 10,471 square feet and was sold for a total price of $11,950,000, resulting in a price per square foot of $1,140. The sale took place on June 28, 2019.

Summary of Transaction Details

  • Property Type: Multifamily
  • Sale Price: $11,950,000
  • Square Footage: 10,471
  • Price Per Square Foot: $1,140
  • Address: 223 East 89th Street
  • Market: UES

The buyer of the property was Jose Serruya, while the seller was JAM Real Estate Partners represented by Jared Pinchasick. The listing agent for the sale was Joe Koicim from New York MultiFamily. Representing the buyer were Ryan Sabet and Yoel Sarraf from VCPRE.

Players

Ryan Sabet

Venture Capital Properties

Broker

$63.8M

vol

10 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker
Jared Pinchasick

Jared Pinchasick

JAM Real Estate Partners

Seller

$183.4M

vol

14 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.33%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93