Updated Dec 21, 2023
Heidi & Colin Mitchell Sell Multifamily Property In Gramercy Park For $9.35M
315 E 18th St,Gramercy Park
$9,350,000
$2,515/SF
Building Size
3,717 SF
Asset Type
MultiFamily
Closing
Sep 30, 2020
About this deal
AI
The property at 315 East 18 Street in Gramercy Park, New York, has been sold in a recent transaction. This multifamily property has a total building square footage (BSF) of 5,520 and a price per BSF (PPBSF) of $1,693. The total square footage (SF) of the property is 3,717, with a price per square foot (PPSF) of $2,515. The property was sold for a total price of $9,350,000. The previous sale of the property took place in January 2014 for $4,150,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,350,000
- Address: 315 East 18 Street, Gramercy Park, New York
- Market: Gramercy Park
- Zoning: R7B
- Seller: Heidi & Colin Mitchell
- BSF: 5,520
- PPBSF: $1,693
- SF: 3,717
- PPSF: $2,515
- Last Sale: $4,150,000 (01/2014)
Heidi & Colin Mitchell were the sellers of this property. The transaction represents a significant increase in value since the previous sale in 2014. The property is located in the highly desirable Gramercy Park area, adding to its market appeal. The sale price per square foot ($2,515) and the price per BSF ($1,693) reflect the value and potential of the property. This transaction highlights the attractiveness of real estate investments in Gramercy Park.
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
1.70%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93