Jose Serruya Acquires Multifamily Property In UES For $11.95M
SOLD
$11,950,000
+ 1
New York
See Similar DealsMultiFamily10,471 SF
Sold 06/28/2019
SOLD
Jose Serruya Acquires Multifamily Property In UES For $11.95M
223 East 89th Street, New York, NY 10128
See Similar DealsMultiFamily10,471 SF
Sold 06/28/2019
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,141
Total Square Footage:10,471 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$637,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,455.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,649.10
Annual Debt Service$679,789.16
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