Updated Mar 20, 2025
Michael Alvandi Purchases Multifamily Property At 244 West 72nd Street For $40M From Fred Shalom
244 West 72nd Street & 244 West 72nd Street
$40,000,000
$229/SF
Building Size
87,150 SF
Asset Type
MultiFamily
Closing
Feb 20, 2025
About this deal
AI
The property asset involved in the transaction is a MultiFamily building located at 244 West 72nd Street in the New York market. The sale price for the asset is $40,000,000.00, which encompasses 88 units and has a total square footage of 87,150.0.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $40,000,000.00
- Address: 244 West 72nd Street
- Market: New York
- Units: 88
- Square Feet: 87,150.0
- Buyer: Michael Alvandi
- Seller: Fred Shalom
- Sale Date: 02/20/2025
Michael Alvandi is the buyer of the property, while Fred Shalom acts as the seller in this transaction. The deal was executed on February 20, 2025.
On the Map
$40,000,000
$229/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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93