Sani Group Acquires Multifamily Property At 300 West 12th Street For $50.5 Million
SOLD
$50,500,000
+ 2
New York
See Similar DealsMultiFamily205,452 SF
Sold 09/19/2024
SOLD
Sani Group Acquires Multifamily Property At 300 West 12th Street For $50.5 Million
300 West 12th Street, 5 Jones Street & 240 West 15th Street
See Similar DealsMultiFamily205,452 SF
Sold 09/19/2024
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$245
Total Square Footage:205,452 SF
Transaction Type:Sale
A multifamily asset located at 300 West 12th Street, 5 Jones Street & 240 West 15th Street in Manhattan has been sold for $50,500,000. The property encompasses a total square footage of 68,484, resulting in a price per square foot of $737.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,500,000
- Square Footage: 68,484
- Price per Square Foot: $737
- Buyer: Sani Group
- Brokers: James Nelson, Brandon Polakoff, David Shalom, Ryan McGuirl & Alexandra Marolda - Avison Young
The deal involved multiple brokers representing the buyer, Sani Group. The transaction reflects the collaborative effort of the team from Avison Young, showcasing their role in facilitating this significant multifamily property acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,693,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$179,415.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$239,395.76
Annual Debt Service$2,872,749.17
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