Parke Leatherman & Alex Glascock-Lockhill Properties Acquire Multifamily Property On Lower East Side For $6.8M
SOLD
$6,800,000
+ 3
New York
See Similar DealsMultiFamily71,280 SF
Sold
SOLD
Parke Leatherman & Alex Glascock-Lockhill Properties Acquire Multifamily Property On Lower East Side For $6.8M
303 E Houston St, New York, NY 10002, USA
See Similar DealsMultiFamily71,280 SF
Sold
+ 3
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$95
Total Square Footage:71280 SF
Transaction Type:Sale
The multifamily property located at 303 East Houston Street in the Lower East Side was recently sold for a sale price of $6,800,000. The property spans across 7,128 square feet, with a price per square foot of $953. The transaction took place on 06/12/2019.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,800,000
- Address: 303 East Houston Street
- Market: Lower East Side
- Size: 7,128 square feet
- Price per Square Foot: $953
The seller of the property was Mark Fischler, while the buyers were Parke Leatherman and Alex Glascock-Lockhill Properties. The deal was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Corey Isdaner, and Jared Bernstein.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63
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