Julian Kiguel Of REDA Holdings Purchases Multifamily Property From Terrence Lowenberg & Todd Cohen For $6.9M
SOLD
$6,900,000
+ 1
New York
See Similar DealsMultiFamily7,895 SF
Sold 12/12/2024
SOLD
Julian Kiguel Of REDA Holdings Purchases Multifamily Property From Terrence Lowenberg & Todd Cohen For $6.9M
242 East 75th Street
See Similar DealsMultiFamily7,895 SF
Sold 12/12/2024
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$874
Total Square Footage:7,895 SF
Transaction Type:Sale
The property at 242 East 75th Street, situated in the Upper East Side market, is a multifamily asset encompassing 7,895 square feet. The sale price for this property was $6,900,000, amounting to a price per square foot of $873.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,900,000
- Address: 242 East 75th Street
- Market: Upper East Side
- Square Footage: 7,895
- Price per Square Foot: $873
- Buyer: Julian Kiguel - REDA Holdings
- Sellers: Terrence Lowenberg & Todd Cohen
- Brokers: Brandon Polakoff, Ryan McGuirl, Eric Karmitz & Joseph Moran - Avison Young
This transaction involved key individuals including Julian Kiguel, representing the buyer, REDA Holdings. The sellers, Terrence Lowenberg and Todd Cohen, were also instrumental in the transaction, while the brokerage firm Avison Young, represented by Brandon Polakoff, Ryan McGuirl, Eric Karmitz, and Joseph Moran, facilitated the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$367,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24
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