Updated Oct 28, 2024
Five LLCs Acquires 181-Unit Multifamily In Midtown Manhattan For $50.1M
245 East 44th Street, New York City, New York 10017, United States
$50,100,000
Units
181
Asset Type
MultiFamily
Closing
Oct 17, 2022
About this deal
AI
A multifamily property located at 245 East 44th Street in Midtown has been sold for $50,100,000. The property consists of 181 units, with an average price per unit of $276,796.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,100,000
- Address: 245 East 44th Street
- Market: Midtown
- Units: 181
- Price per Unit: $276,796
The buyer of the property is Five LLCs, while the seller is the Manocherian Family, specifically Freydun Manocherian.
The multifamily sale at 245 East 44th Street, New York City, New York 10017, United States in New York, New York sold for $50.1M in 2022. Reported inventory is 181 units across 181 units. This page is the New York, New York file for the 245 East 44th Street, New York City, New York 10017, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else sold near 245 East 44th Street, New York City, New York 10017, United States around 2022. Published consideration for 245 East 44th Street, New York City, New York 10017, United States is $50.1M, dated 2022. Cite this Five LLCs Acquires 181-Unit Multifamily In Midtown Manhattan For $50.1M sale when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93