Mike Khodadadian Purchases Multifamily Property From Maidman Family For $2.7M In Hell's Kitchen
SOLD
$2,700,000
New York
See Similar DealsMultiFamily9,940 SF
Sold 12/16/2024
SOLD
Mike Khodadadian Purchases Multifamily Property From Maidman Family For $2.7M In Hell's Kitchen
309 West 43rd Street
See Similar DealsMultiFamily9,940 SF
Sold 12/16/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$271
Total Square Footage:9,940 SF
Transaction Type:Sale
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:
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Address: 309 West 43rd Street
- Market: Hell's Kitchen
- Square Footage: 9,940
- Price Per Square Foot: $271
- Buyer: Mike Khodadadian
- Seller: Maidman Family
- Brokers: Noah Kossoff, Ryan McGuirl & Mitchell Levine - Avison Young
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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