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2660 Broadway, New York Cit...

Joshua Gotlib Acquires 2660 Broadway In Manhattan Valley For $36M
SOLDMultiFamily

Joshua Gotlib Acquires 2660 Broadway In Manhattan Valley For $36M

2660 Broadway, New York City, New York 10025, United States

$36,000,000

$377/SF

Building Size

95,400 SF

Asset Type

MultiFamily

Closing

Nov 2, 2021

AI

The multi-family property located at 2660 Broadway in Manhattan Valley, Manhattan has recently been sold. The transaction took place on 11/03/2021. The property is situated on a lot size of 12,683 square feet and has dimensions of 126.83 ft x 100 ft. The zoning for the property is R9A, C1-5, allowing for multiple uses. The property has a floor area ratio (FAR) of 7.52, indicating the potential development capacity. The property falls under tax class 2.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $36,000,000
  • Buyer: Joshua Gotlib
  • Seller: Sofia Einy
  • Building Square Footage: 95,376
  • Price per Building Square Foot: $377
  • Lot Square Footage: 95,400
  • Price per Square Foot: $377
  • Last Sale Price: $0.00 (8/25/2021)

Joshua Gotlib acted as the buyer in the transaction, while Sofia Einy was the seller. The sale price for the property was $36,000,000. The building offers a total of 95,376 square feet of space, with a price per building square foot of $377. The lot size of 12,683 square feet provides ample potential for development. It is worth noting that the property's last recorded sale was on 8/25/2021 for $0.00. The deal was closed under the representation of their respective brokers.

Players

Josh Gotlib

Black Spruce Management

Broker

$1.8B

vol

6 deals

Broker

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

0.44%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93