60 Guilders Acquires Multifamily Assets In East Village For $59M
SOLD
$59,000,000
+ 2
New York
See Similar DealsMultiFamily102,000 SF
Sold 08/18/2022
SOLD
60 Guilders Acquires Multifamily Assets In East Village For $59M
310 East 12th Street, New York City, New York 10003, United States
See Similar DealsMultiFamily102,000 SF
Sold 08/18/2022
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$578
Total Square Footage:102,000 SF
Transaction Type:Sale
A multifamily property located at 310 East 12th Street and 305 East 11th Street in the East Village has been sold for a total of $59,000,000. The property spans 102,000 square feet, resulting in a price per square foot of $578.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $59,000,000
- Address: 310 East 12th Street and 305 East 11th Street
- Market: East Village
The buyers of the property are 60 Guilders, represented by Kevin Chisholm and Bastien Broda. The deal was facilitated by brokers David Schechtman, Abie Kassin, and Lipa Lieberman from Meridian Capital Group.
It is worth noting that Adam Spies and Adam Doneger of Cushman & Wakefield raised the equity for this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$209,614.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$279,690.10
Annual Debt Service$3,356,281.20
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