Updated Sep 5, 2024
Joseph Cvek Acquires 16-Unit Multifamily Property In NYC For $5M
239 East 77th Street
$5,000,000
$675/SF
Building Size
7,400 SF
Asset Type
MultiFamily
Closing
May 4, 2023
About this deal
AI
The multifamily property located at 239 East 77th Street in New York City has been sold in a closed transaction. The property consists of 16 units with a total square footage of 7,400. The sale price for this property was $5,000,000, resulting in a price per unit of $312,500 and a price per square foot of $676.
Summary of transation details
- Property Type: Multifamily
- Sale Price: $5,000,000
- Units: 16
- Price Per Unit: $312,500
- Square Footage: 7,400
- Price Per Square Foot: $676
Joseph Cvek purchased the multifamily property from the Filipacchi Family. The transaction was facilitated by Eric Karmitz, Noah Kossoff, and Brandon Polakoff from Avison Young, representing both the buyer and the seller.
Players
Market 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93