Katherine Cartagena Acquires Multifamily Property In Turtle Bay For $6M
SOLD
$4,500,000
New York
See Similar DealsMultiFamily5,760 SF
Sold 02/04/2022
SOLD
Katherine Cartagena Acquires Multifamily Property In Turtle Bay For $6M
311 East 51st Street, New York City, New York 10022, United States
See Similar DealsMultiFamily5,760 SF
Sold 02/04/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$781
Total Square Footage:5,760 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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