Updated Dec 19, 2023
Benjamin Newman Acquires Multifamily Property On 29 Downing Street In Greenwich Village, Manhattan For $9.5M
29 Downing Street, New York City, New York 10014, United States
$9,500,000
$2,648/SF
Building Size
3,587 SF
Asset Type
MultiFamily
Closing
Aug 3, 2022
About this deal
AI
A multifamily property located at 29 Downing Street in Greenwich Village, Manhattan has been sold. The property is zoned as R6 and has a lot size of 1,750 square feet. The building has a total square footage of 4,252, with a price per square foot of $2,234. It consists of 3,587 square feet of living space, with a price per square foot of $2,648. The property has a floor area ratio of 2.05 and is classified as tax class 1. It was last sold on November 16, 2016, for $6,800,000. An alteration 3 permit was granted on July 20, 2020, and the lot dimension is 25 ft x 70 ft.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,500,000
- Buyer: Benjamin Newman
- Seller: Hendrick Lee
- Price Per Square Foot: $2,648
Benjamin Newman represented the buyer and Hendrick Lee represented the seller in the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Benjamin Newman to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93