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311 East 51st Street, New Y...

Katherine Cartagena Acquires Multifamily Property In Turtle Bay For $6M
SOLDMultiFamily

Katherine Cartagena Acquires Multifamily Property In Turtle Bay For $6M

311 East 51st Street, New York City, New York 10022, United States

$4,500,000

$781/SF

Building Size

5,760 SF

Asset Type

MultiFamily

Closing

Feb 3, 2022

AI

The multifamily property located at 311 East 51st Street in the Turtle Bay market has been sold for a price of $6,000,000. The property consists of 8 units, with an average price per unit (PPU) of $750,000. The total square footage of the property is 5,760, resulting in a price per square foot (PPSF) of $1,041.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,000,000
  • Units: 8
  • Average Price per Unit (PPU): $750,000
  • Square Footage: 5,760
  • Price per Square Foot (PPSF): $1,041
  • Address: 311 East 51st Street
  • Market: Turtle Bay

The buyer of the property is Katherine Cartagena.

Players

Katherine Cartagena

Buyer

$81M

vol

3 deals

Buyer

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93