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:
- 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.
Players
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