Updated Oct 25, 2024
Hersel Torkian Acquires 20-Unit Multifamily Property On Upper East Side For $5M
242 E 83rd St, New York, NY 10028, USA
$5,000,000
$509/SF
Building Size
9,815 SF
Asset Type
MultiFamily
Closing
Jun 24, 2020
About this deal
AI
A multifamily property located at 242 E. 83rd St. in the Upper East Side of Manhattan has been sold for $5,000,000. The property spans 9,815 square feet, resulting in a price per square foot of $509. It consists of 20 units, with a price per unit of $250,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Square Footage: 9,815
- Price per Square Foot: $509
- Number of Units: 20
- Price per Unit: $250,000
The seller of the property was Milton Taube, while the buyer was Hersel Torkian. Ron Solarz and Jonny Yuran, representing NewmarkKF, acted as the brokers in this transaction.
On the Map
$5,000,000
$509/SF
MultiFamily
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Players
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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