Updated Sep 5, 2024
Commercial Acquisitions Acquires Package Deal In New York City For $2.6M
229 Park Ave New York, NY 10167, USA
$2,600,000
$1,925/SF
Building Size
1,350 SF
Asset Type
MultiFamily
Closing
Jun 20, 2023
About this deal
AI
Two properties located at 229 Park Avenue and 231 Park Avenue have recently been sold in a package deal in New York City. The transactions were facilitated by Arsen Atbashyan of Commercial Acquisitions. The sale price for these properties was $2,600,000, with a total square footage of 1,350. This equates to a price per square foot of $1,926.
Summary of Transaction Details
- Property Type: Package Deal
- Transaction Amount: $2,600,000
- Square Footage: 1,350
- Price per Square Foot: $1,926
- Broker: Arsen Atbashyan - Commercial Acquisitions
Arsen Atbashyan, a broker from Commercial Acquisitions, played a crucial role in the successful sale of these properties. The package deal transaction involved two adjacent properties located at 229 Park Avenue and 231 Park Avenue in New York City.
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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93