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309 West 43rd Street

Mike Khodadadian Purchases Multifamily Property From Maidman Family For $2.7M In Hell's Kitchen
SOLDMultiFamily

Mike Khodadadian Purchases Multifamily Property From Maidman Family For $2.7M In Hell's Kitchen

309 West 43rd Street

$2,700,000

$271/SF

Building Size

9,940 SF

Asset Type

MultiFamily

Closing

Dec 16, 2024

AI

The property asset involved in this transaction is a multifamily building located at 309 West 43rd Street in the Hell's Kitchen market. The sale price for the property was $2,700,000, encompassing a total area of 9,940 square feet, which equates to a price per square foot of $271.

Summary of transaction details:

The deal was facilitated by brokers Noah Kossoff, Ryan McGuirl, and Mitchell Levine, who represented the buyer and seller in this transaction. Their involvement underscored the collaborative effort necessary to bring this multifamily property transaction to fruition.

Players

Noah Kossoff

Avison Young

Broker

$385.1M

vol

35 deals

Broker

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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93