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
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