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Solil Management Acquires Multifamily Property In Manhattan For $22.1M

Property Image
SOLD
$22,112,000
Sean Lefkovits
Ivan Hakimian
Jane Goldman
+ 1

New York

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MultiFamily15,925 SF
Sold 08/23/2017
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Property Image
SOLD

Solil Management Acquires Multifamily Property In Manhattan For $22.1M

307-309 Mott Street, New York, NY, USA

See Similar Deals
MultiFamily15,925 SF
Sold 08/23/2017
Sean Lefkovits
Ivan Hakimian
Jane Goldman
+ 1
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,388
Total Square Footage:15,925 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 307-309 Mott Street in Manhattan, New York. The price for the sale was $22,112,000, with the total square footage measuring 15,925. The price per square foot stands at $1,388.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $22,112,000
  • Address: 307-309 Mott Street
  • City: New York
  • Market: Manhattan
  • Square Footage: 15,925
  • Price per Square Foot: $1,388
  • Seller: Icon Realty
  • Buyer's Representative: Jane Goldman from Solil Management
  • Transaction Date: 11th July, 2017
  • Broker: Sean Lefkovits from @hpny_ alongside Ivan Hakimian

The seller, Icon Realty, had representatives including Terrence Lowenberg and Tcohennyc. The property was previously purchased by Icon for $8.1 million in 2012, marking a significant increase in value upon its sale.

Players

Ivan Hakimian
HPNY
Ivan Hakimian
8 deals$132.6M volume
BROKER
Sean Lefkovits
Sean Lefkovits
12 deals$62.6M volume
BROKER
Jane Goldman
Solil Management
Jane Goldman
6 deals$45.7M volume(212) 506-0480
BROKER
Terrence Lowenberg
Icon Realty Management
Terrence Lowenberg
16 deals$301.7M volume
BROKER
Jane Goldman
Solil Management
Jane Goldman
6 deals$45.7M volume
BUYER
Terrence Lowenberg
Icon Realty Management
Terrence Lowenberg
16 deals$301.7M volume
SELLER
Icon Realty Management
Icon Realty Management
SELLER

Details

SOLD
IMAGE: 307-309 Mott Street CITY: New York MARKET: Manhattan ASSET TYPE: Multifamily SELLER: Icon Realty @TerrenceLowenberg @Tcohennyc BUYER: Solil Management - Jane Goldman DATE: 11th July, 2017 BROKER: @hpny_'s Sean Lefkovits brokered the deal @4lefko alongside @ivanhakimian PRICE: $22,112,000 SF: 15,925 PPSF: $1,388 NOTE: Icon purchased the building for $8.1M in 2012.

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Deal Type
Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,559.26
Cash-on-Cash Return-1.27%
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