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Marcus & Millichap Brokers Sell 7-Unit Multifamily Property In Noho, Manhattan For $3.5M

Property Image
SOLD
$3,500,000
Peter Dodge
Logan Markley
+ 1

New York

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MultiFamily6,344 SF
Sold 09/26/2023
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Property Image
SOLD

Marcus & Millichap Brokers Sell 7-Unit Multifamily Property In Noho, Manhattan For $3.5M

294 Elizabeth Street

See Similar Deals
MultiFamily6,344 SF
Sold 09/26/2023
Peter Dodge
Logan Markley
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$551
Total Square Footage:6,344 SF
Transaction Type:Sale

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

Logan Markley
70 deals$970.7M volume(212) 430-5194
BROKER

Joseph (Joe) Koicim
Marcus & Millichap
172 deals$2.7B volume(212) 430-5147
BROKER

Peter Dodge
Marcus & Millichap
21 deals$203.4M volume(212) 430-5231
BROKER

David Habif
7 deals$42M volume
BUYER

Details

SOLD
IMAGE: Peter Dodge, David Habif, Joe Koicim & Logan Markley DATE: 09/26/2023 ADDRESS: 294 Elizabeth Street MARKET: Noho, Manhattan ASSET TYPE: Multifamily BUYER: David Habif - Habif Real Estate SELLER: Greg Ozzimo BROKERS: Peter Dodge (@PxDodge), Joe Koicim (@Joey1Cap) & Logan Markley (@LogantMarkley) - Marcus & Millichap (@MarcusMillichapINC) SALE PRICE: $3,500,000 UNITS: 7 ~ PPU: $500,000 SF: 6,344 ~ PPSF: $552 NOTE FROM BROKER: All Cash Transaction

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$12,434.75
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