Updated Dec 4, 2024
Pouya Toobian Acquires Multifamily Buildings In Murray Hill, Manhattan For $6.8M
235 East 39th Street, 239 East 39th Street & 241 East 39th Street
$6,800,000
$178/SF
Building Size
12,688 SF
Asset Type
MultiFamily
Closing
Dec 18, 2023
About this deal
AI
The entity 235-239-241 39th St LLC has completed the acquisition of three eight-unit residential walkup buildings in Murray Hill, Manhattan, at 235, 239, and 241 East 39th Street, for a total of $6.8 million. The properties have a total square footage of 12,688 with a price per square foot of $532. The sale price equated to $128 per buildable square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,750,000
- Buyer: Pouya Toobian
- Seller: Cynthia Miltenberg, Howard Balaban, Sam I. Elias, Andrew T. Miltenberg & Ira S. Nesenoff
- Address: 235 East 39th Street, 239 East 39th Street & 241 East 39th Street
- Market: Murray Hill, Manhattan
Pouya Toobian served as the buyer in this transaction, while Cynthia Miltenberg, Howard Balaban, Sam I. Elias, Andrew T. Miltenberg & Ira S. Nesenoff acted as the sellers in the sale of the three residential walkup buildings. The acquisition was successfully completed on December 18, 2023.
On the Map
$6,800,000
$178/SF
MultiFamily
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Players
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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93