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:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 280 Mulberry Street
- Market: Nolita
- Square Footage: 16,158
- Price Per Square Foot: $866
- Seller: Space Group
- Brokers: Jonathan Schwartz & David Schechtman - Meridian Capital Group
- Last trade in 2008 for: $14,500,000
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
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