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347 Manhattan Avenue, New Y...

Jerry Padovicz Acquires Multifamily Property In Manhattanville For $5.2M
SOLDMultiFamily

Jerry Padovicz Acquires Multifamily Property In Manhattanville For $5.2M

347 Manhattan Avenue, New York, NY 10026

$5,200,000

$449/SF

Building Size

11,565 SF

Asset Type

MultiFamily

Closing

Oct 30, 2018

AI

The multifamily property located at 347 Manhattan Avenue in Manhattanville has been sold for a price of $5,200,000. The property spans 11,565 square feet, resulting in a price per square foot of $450. The transaction took place on October 31, 2018.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,200,000
  • Square Footage: 11,565
  • Price Per Square Foot: $450
  • Address: 347 Manhattan Avenue
  • Market: Manhattanville

The seller of the property was Artimus Construction, represented by Ken Haron. The buyer, Jerry Padovicz, purchased the property with the assistance of Ann Morreel from @evamericas. The transaction was facilitated by the brokers Victor Sozio, Orry Michael, and Marko Agbaba from @arielpa.nyc.

Players

Marko Agbaba

Ariel Property Advisors

Broker

$12.8M

vol

4 deals

Broker
AC
Artimus ConstructionSeller

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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93