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AYA & Big Apple Living Acquire Multifamily Property In Kips Bay, Manhattan For $7.9M

Property Image
SOLD
$7,900,000
Stephen Godnick
Ethan Stanton
Clint Olsen
+ 1

New York

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MultiFamily16,077 SF
Sold 02/15/2022
the dealplayerscompscontact
Property Image
SOLD

AYA & Big Apple Living Acquire Multifamily Property In Kips Bay, Manhattan For $7.9M

237-239 East 33rd Street, New York City, New York 10016, United States

See Similar Deals
MultiFamily16,077 SF
Sold 02/15/2022
Stephen Godnick
Ethan Stanton
Clint Olsen
+ 1
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$491
Total Square Footage:16,077 SF
Transaction Type:Sale

A multifamily property located at 237-239 East 33rd Street in Kips Bay, Manhattan, has been sold for $7,900,000. The property consists of 29 units with an average price per unit of $272,413. The total square footage of the property is 16,077, resulting in a price per square foot of $491.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $7,900,000
  • Address: 237-239 East 33rd Street
  • Market: Kips Bay, Manhattan

The buyer of the property is AYA & Big Apple Living, while the seller is G4 Capital Partners. The transaction was facilitated by Stephen Palmese, Ethan Stanton, Clint Olsen, and Stephen Godnick from JLL.

Players

Clint Olsen
JLL
Clint Olsen
22 deals$702.9M volume
BROKER
Ethan Stanton
JLL
Ethan Stanton
133 deals$6.1B volume(516) 790-7718
BROKER
Stephen Palmese
JLL
Stephen Palmese
84 deals$3.3B volume(212) 376-1228
BROKER
Stephen Godnick
JLL
Stephen Godnick
10 deals$215.9M volume
BROKER
The Corcoran Group
The Corcoran Group
BROKERAGE
Capital Partners
Capital Partners
SELLER

Details

SOLD
IMAGE: Stephen Palmese, Ethan Stanton, Clint Olsen & Stephen Godnick DATE: 02/15/2022 ADDRESS: 237-239 East 33rd Street MARKET: Kips Bay, Manhattan ASSET TYPE: Multifamily BUYER: AYA & Big Apple Living SELLER: G4 Capital Partners BROKERS: Stephen Palmese, Ethan Stanton, Clint Olsen & Stephen Godnick - JLL SALE PRICE: $7,900,000 UNITS: 29 ~ PPU: $272,413 SF: 16,077 ~ PPSF: $491

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

$421,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,067.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,450.03
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