Duc Hoang Acquires MultiFamily Property In New York City For $2.86M
SOLD
$2,860,000
New York
See Similar DealsMultiFamily4,800 SF
Sold 03/17/2023
SOLD
Duc Hoang Acquires MultiFamily Property In New York City For $2.86M
228 East 51st Street
See Similar DealsMultiFamily4,800 SF
Sold 03/17/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$595
Total Square Footage:4,800 SF
Transaction Type:Sale
The multi-family property located at 228 East 51st Street in New York City has been sold in a recent transaction. The property consists of 4 units with a total area of 4,800 square feet. The sale price for this transaction was $2,860,000, resulting in a price per unit of $715,000 and a price per square foot of $596.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $2,860,000
- Units: 4
- Price per Unit: $715,000
- Total Square Feet: 4,800
- Price per Square Foot: $596
Duc Hoang has acquired the property from the John Henry DeMaio Trust. The brokerage firm involved in this transaction is Besen Partners, with Jay Bernstein representing the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$152,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,160.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,557.86
Annual Debt Service$162,694.31
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