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226 West 79th Street, Manha...

David Shorenstein Acquires Multifamily Property In Upper West Side, Manhattan For $5.1M
SOLDMultiFamily

David Shorenstein Acquires Multifamily Property In Upper West Side, Manhattan For $5.1M

226 West 79th Street, Manhattan, New York, NY, USA

$5,100,000

$920/SF

Building Size

5,541 SF

Asset Type

MultiFamily

Closing

Nov 15, 2021

AI

The multifamily property located at 226 West 79 Street in the Upper West Side of Manhattan has been sold for a total price of $5,100,000. The property, which is zoned as R10A and C1-5, offers a building square footage (BSF) of 17,370 at a price per BSF (PPBSF) of $293. The total square footage of the property is 5,541, with a price per square foot (PPSF) of $920. The FAR of the property is 3.19, and it falls under tax class 2A.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $5,100,000
  • Address: 226 West 79 Street
  • Market: Upper West Side, Manhattan
  • Zoning: R10A, C1-5

The buyer of the property is David Shorenstein, and the seller is John LaGreco. The lot size of the property is 1,737 square feet, with dimensions of 17 ft x 102.17 ft. The property also holds an alteration permit issued on 06/28/2010.

Players

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer

John LaGreco

Seller

$10.2M

vol

2 deals

Seller

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

3.11%

Cash-on-Cash

-0.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93