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Kushner Companies Sells East Village Multifamily Asset For $7.62M With Marcus & Millichap Brokers

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SOLD
$7,618,000

New York

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MultiFamily10,710 SF
Sold 11/15/2024
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Property Image
SOLD

Kushner Companies Sells East Village Multifamily Asset For $7.62M With Marcus & Millichap Brokers

318 East 11th Street

See Similar Deals
MultiFamily10,710 SF
Sold 11/15/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$711
Total Square Footage:10,710 SF
Transaction Type:Sale

The multifamily property located at 318 East 11th Street in the East Village has a sale price of $7,618,000. The asset comprises 17 units spread across a total square footage of 10,710, resulting in a price per unit of $448,117 and a price per square foot of $711.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,618,000
  • Units: 17
  • Square Feet: 10,710
  • Price Per Unit: $448,117
  • Price Per Square Foot: $711
  • Market: East Village
  • Seller: Kushner Companies
  • Broker Representatives: Joseph Koicim, Logan Markley, and Matt Berger - Marcus & Millichap

The New York Multifamily group has completed over $190,000,000 in sales across 24 buildings in the past 18 months. They are actively selling several similar opportunities throughout New York City, with price ranges from $5M to $100M. For inquiries and complimentary analysis, interested parties can contact Joe Koicim at 212-430-5147 or via email at [email protected].

Players

Logan Markley
70 deals$970.7M volume(212) 430-5194
BROKER

Joseph (Joe) Koicim
Marcus & Millichap
173 deals$2.7B volume(212) 430-5147
BROKER

Matt Berger
Marcus & Millichap
21 deals$391.5M volume
BROKER

Details

SOLD
IMAGE: Matt Berger, Joseph Koicim & Logan Markley DATE: 11/15/2024 ADDRESS: 318 East 11th Street MARKET: East Village ASSET TYPE: Multifamily SELLER: Kushner Companies (@KushnerCompanies) BROKERS: Joseph Koicim (@Joey1Cap), Logan Markley (@LogantMarkley) & Matt Berger (@MattBerger5) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $7,618,000 UNITS: 17 ~ PPU: $448,117 SF: 10,710 ~ PPSF: $711 NOTE FROM BROKER: The New York Multifamily group is pleased to have executed the sale of 24 buildings for ownership, completing over $190,000,000 in sales in the last 18 months. We are currently selling several similar opportunities throughout New York City ranging from $5M to $100M. Please reach out to Joe Koicim at 212-430-5147 or [email protected] to discuss or for a complimentary analysis.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$27,065.16
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