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315 E 18th St,Gramercy Park

Updated Dec 21, 2023

Heidi & Colin Mitchell Sell Multifamily Property In Gramercy Park For $9.35M
SOLDMultiFamily

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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Deal FAQ

About $2.5K per square foot on a published $9.4M for 3,717 square feet (2020).

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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

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