Benedetto Kahlun Of JGK Real Estate Holdings Purchases Multifamily Asset From Michael Daniel For $14M
SOLD
$14,000,000
New York
See Similar DealsMultiFamily17,358 SF
Sold 01/28/2025
SOLD
Benedetto Kahlun Of JGK Real Estate Holdings Purchases Multifamily Asset From Michael Daniel For $14M
280 282 Mulberry Street
See Similar DealsMultiFamily17,358 SF
Sold 01/28/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$806
Total Square Footage:17,358 SF
Transaction Type:Sale
The multifamily asset located at 280-282 Mulberry Street in the Nolita market was sold for $14,000,000. The property encompasses a total area of 17,358 square feet, resulting in a price per square foot of $806.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 280-282 Mulberry Street
- Market: Nolita
- Buyer: Benedetto Kahlun - JGK Real Estate Holdings
- Seller: Michael Daniel
- Broker: Jonathan Schwartz - Meridian Capital Group
This transaction was represented by Jonathan Schwartz from Meridian Capital Group on behalf of the seller, Michael Daniel. The buyer, Benedetto Kahlun, can be contacted regarding deals at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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