Townhouse Rental II, LLC Acquires 4-Unit Multifamily Property On New York Avenue For $3.7M
260 New York Avenue
$3,700,000
$1,289/SF
Building Size
2,869 SF
Asset Type
MultiFamily
Closing
Dec 30, 2022
AI
The multifamily property located at 260 New York Avenue in New York City has been sold for a total price of $3,700,000. The property consists of 4 units, with each unit having a price per unit (PPU) of $925,000. The total square footage of the property is 2,869, resulting in a price per square foot (PPSF) of $1,290.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,700,000
- Units: 4
- PPU: $925,000
- Square Footage: 2,869
- PPSF: $1,290
The seller of the property is Natalia Harvey, while the buyer is Townhouse Rental II, LLC. The deal was facilitated by David Chang and Giovanni Castro, who represented both parties as brokers from Compass.
Players
New York City 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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93