Marcus & Millichap Brokers Sell 7-Unit Multifamily Property In Noho, Manhattan For $3.5M
294 Elizabeth Street
$3,500,000
$551/SF
Building Size
6,344 SF
Asset Type
MultiFamily
Closing
Sep 26, 2023
AI
The property involved in this transaction is a multifamily building located at 294 Elizabeth Street in the Noho neighborhood of Manhattan. It consists of 7 units with a total square footage of 6,344. The sale price for this property was $3,500,000, resulting in a price per unit of $500,000 and a price per square foot of $552.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Units: 7
- Price Per Unit: $500,000
- Square Footage: 6,344
- Price Per Square Foot: $552
- Address: 294 Elizabeth Street
- Market: Noho, Manhattan
In this transaction, the buyer was David Habif of Habif Real Estate and the seller was Greg Ozzimo. The deal was facilitated by brokers Peter Dodge, Joe Koicim, and Logan Markley of Marcus & Millichap.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93