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280 Mulberry Street

Space Group Sells Multifamily Asset At 280 Mulberry Street For $14M With Brokers Jonathan Schwartz & David Schechtman
SOLDMultiFamily

Space Group Sells Multifamily Asset At 280 Mulberry Street For $14M With Brokers Jonathan Schwartz & David Schechtman

280 Mulberry Street

$14,000,000

$866/SF

Building Size

16,158 SF

Asset Type

MultiFamily

Closing

Jan 28, 2025

AI

The asset involved in this transaction is a multifamily property located at 280 Mulberry Street in the Nolita market. The sale price for this property was $14,000,000. The property encompasses 16,158 square feet, which translates to a price per square foot of $866.

Summary of transaction details:

This transaction involved brokers Jonathan Schwartz and David Schechtman representing the seller, Space Group, reflecting their expertise in handling multifamily properties in the Nolita market.

Players

David Schechtman

Meridian Capital Group

Broker

$1.8B

vol

68 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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93