The Ventura Family Acquires Multifamily Property In New York For $7.75M
SOLD
New York
See Similar DealsMultiFamily16,440 SF
Sold 03/28/2022
SOLD
The Ventura Family Acquires Multifamily Property In New York For $7.75M
315-317 East 89th Street, New York City, New York 10128, United States
See Similar DealsMultiFamily16,440 SF
Sold 03/28/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$471
Total Square Footage:16,440 SF
Transaction Type:Sale
The multifamily property located at 315-317 E. 89th Street in New York has been sold for a total price of $7,750,000. This transaction marks the first sale of the property since 1953. The property consists of 22 units, with a price per unit (PPU) of $352,272. The total square footage of the property is 16,440, with a price per square foot (PPSF) of $471.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,750,000
- Units: 22
- PPU: $352,272
- Total Square Footage: 16,440
- PPSF: $471
- Address: 315-317 E. 89th Street, New York
- Market: New York
The buyer of the property is the Ventura Family, while the seller is John Curreri. Lena Rivera from Link NY Realty represented both parties as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,534.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,738.95
Annual Debt Service$440,867.45
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