Lightstone Group Acquires Multifamily Property In Upper West Side For $60M
SOLD
$60,000,000
New York
See Similar DealsMultiFamily132,975 SF
Sold 03/08/2022
SOLD
Lightstone Group Acquires Multifamily Property In Upper West Side For $60M
2481 Broadway, New York City, New York 10025, United States
See Similar DealsMultiFamily132,975 SF
Sold 03/08/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$451
Total Square Footage:132,975 SF
Transaction Type:Sale
A multifamily property located at 2481 Broadway in the Upper West Side of New York City has been sold in a recent transaction. The property was acquired by Lightstone Group from Irene Bogoni and Paul Bogoni. The sale took place on 03/08/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Address: 2481 Broadway
- Market: Upper West Side
The multifamily property consists of 86 units with an average price per unit of $697,674. The total square footage of the property is 132,975, resulting in a price per square foot of $451.
David Lichtenstein & Mitchell Hochberg were the representatives involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,167.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,430.61
Annual Debt Service$3,413,167.33
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