Jason Glick Acquires Multifamily Property On UES For $12.5M
SOLD
$12,500,000
+ 2
New York
See Similar DealsMultiFamily17,920 SF
Sold 12/06/2018
SOLD
Jason Glick Acquires Multifamily Property On UES For $12.5M
312-314 East 91st Street, New York, NY, USA
See Similar DealsMultiFamily17,920 SF
Sold 12/06/2018
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$697
Total Square Footage:17,920 SF
Transaction Type:Sale
The multifamily property located at 312-314 East 91st Street in the UES neighborhood was recently sold for $12,500,000. This property spans a total area of 17,920 square feet, resulting in a price per square foot of $698. The transaction involved the sale of 30 units, with an average price per unit of $416,666.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Address: 312-314 East 91st Street
- Market: UES
- Seller: John Currei
- Buyer: Jason Glick
The sale of this multifamily property was facilitated by Peter Von Der Ahe, Joe Koicim, Danny Handweiler, and Jared Bernstein, representing Marcus & Millichap. Their expertise and negotiation skills played a crucial role in bringing together the seller, John Currei, and the buyer, Jason Glick, for this successful transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53
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