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294 Elizabeth Street

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

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

Logan Markley

Marcus & Millichap

Broker

$970.7M

vol

70 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker
David Habif

David Habif

Habif Real Estate

Buyer

$42M

vol

7 deals

Buyer

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