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Amir Shriki Acquires Multifamily Property From Carmel Partners For $45 Million In Upper East Side

Property Image
SOLD
$45,000,000
David Schechtman
Abie Kassin
+ 1

New York

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MultiFamily105,282 SF
Sold 12/04/2024
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Property Image
SOLD

Amir Shriki Acquires Multifamily Property From Carmel Partners For $45 Million In Upper East Side

225 East 63rd Street

See Similar Deals
MultiFamily105,282 SF
Sold 12/04/2024
David Schechtman
Abie Kassin
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$427
Total Square Footage:105,282 SF
Transaction Type:Sale

225 East 63rd Street is a multifamily asset situated in the Upper East Side market with a sale price of $45,000,000. The property encompasses a total of 105,282 square feet and consists of 152 rental units, resulting in a price per unit of $296,052 and a price per square foot of $427.

Summary of transaction details:

This transaction involved key individuals such as Amir Shriki representing the buyer, and Carmel Partners as the seller. The deal was brokered by Lipa Lieberman, Abie Kassin, and David Schechtman from Meridian Capital Group along with Ariel Tavivian from Douglas Elliman, highlighting the collaborative efforts of multiple entities in the successful closing of this property transaction.

Players

Abie Kassin
52 deals$1.6B volume(212) 468-5909
BROKER

Lipa Lieberman
Meridian Capital Group
36 deals$1.2B volume
BROKER

David Schechtman
Meridian Capital Group
68 deals$1.8B volume
BROKER

Ariel Tavivian
Douglas Elliman
2 deals$58.6M volume(212) 319-4109
BROKER

Details

SOLD
IMAGE: Lipa Lieberman & Ariel Tavivian DATE: 12/04/2024 ADDRESS: 225 East 63rd Street MARKET: Upper East Side ASSET TYPE: Multifamily BUYER: Amir Shriki SELLER: Carmel Partners BROKERS: Lipa Lieberman (@Team.Schechtman), Abie Kassin & David Schechtman - Meridian Capital Group (@Meridian.Capital.Group) & Ariel Tavivian - Douglas Elliman (@DouglasElliman) SALE PRICE: $45,000,000 UNITS: 152 ~ PPU: $296,052 SF: 105,282 ~ PPSF: $427 NOTE FROM BROKER: GROUND LEASE OF RENOIR HOUSE, 225 EAST 63RD STREET, NEW YORK, NEW YORK 10065 105,282 SF building. 151 rental units $45,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,400,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50