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Arden Group International Acquires 8-Unit Multifamily With Retail In Lower East Side

Property Image
SOLD
$2,550,000

New York

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MultiFamily10,000 SF
Sold 08/29/2023
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Property Image
SOLD

Arden Group International Acquires 8-Unit Multifamily With Retail In Lower East Side

286 Broome St New York, NY 10002, USA

See Similar Deals
MultiFamily10,000 SF
Sold 08/29/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$255
Total Square Footage:10,000 SF
Transaction Type:Sale

Located at 286 Broome Street in New York City, this multi-family property boasts a total of 8 residential units and a retail space. The sale was made by Kt Cheung and Tim Chang to Jeremy Conway of Arden Group International, with a sale price of $2,550,000. The property spans across a total area of 10,000 square feet, with an average price per unit of $318,750 and a price per square foot of $255.

Summary of Transaction Details

  • Property Type: MultiFamily
  • Transaction Amount: $2,550,000
  • Address: 286 Broome Street, New York City
  • Market: New York City
  • Units: 8
  • Price per Unit: $318,750
  • Square Footage: 10,000
  • Price per Square Foot: $255

Arden Group International, represented by Jeremy Conway, acquired this property located in the prime lower east side. The buyer is actively seeking further investment opportunities and is willing to close deals quickly and with all-cash transactions. Jeremy Conway can be contacted at 917-751-3410 or [email protected] for any potential deals.

Players

JC
Arden Group
Jeremy Conway
4 deals$9M volume
BUYER
Arden Group
Arden Group
LENDER

Details

SOLD
IMAGE: Jeremy Conway DATE: 08/29/2023 ADDRESS: 286 Broome Street MARKET: New York City ASSET TYPE: MultiFamily BUYER: Jeremy Conway (@HemightBeFamous) - Arden Group International SELLER: Kt Cheung And Tim Chang BROKERS: SALE PRICE: $2,550,000 UNITS: 8 ~ PPU: $318,750 SF: 10,000 ~ PPSF: $255 NOTE FROM BUYER: We are HUNGRY to buy more!!!!!! Arden Group International is excited about our purchase of this 8 unit with retail in the prime lower east side. We are actively buying and closing all cash and moving extremely quickly, please reach out with further deals. Jeremy conway 917-751-3410 [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61