Updated Oct 29, 2024
Mitchell B. Modell Acquires Multifamily Property On Broome St For $22.5M
249 Broome St, New York, NY 10002, USA
$22,500,000
$118/SF
Building Size
190,580 SF
Asset Type
MultiFamily
Closing
Jun 18, 2019
About this deal
AI
The multifamily property located at 249 Broome St in the Lower East Side has been sold for $22,500,000. The property spans over 19,058 square feet with a price per square foot of $1,180.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Address: 249 Broome St
- Market: Lower East Side
- Square Footage: 19,058
- Price per Square Foot: $1,180
Mitchell B. Modell, the buyer, finalized the transaction. Mitchell B. Modell is the owner of Modells and was represented by their broker, Modell's REP. The seller of the property was Mark Silver.
On the Map
$22,500,000
$118/SF
MultiFamily
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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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93