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Viking Management Acquires Multifamily Asset From ABJ Properties For $5.75M In East Village

Property Image
SOLD
$5,750,000
Zan Colin
Harry James
+ 1

New York

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MultiFamily4,708 SF
Sold 10/16/2024
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Property Image
SOLD

Viking Management Acquires Multifamily Asset From ABJ Properties For $5.75M In East Village

32 Avenue a

See Similar Deals
MultiFamily4,708 SF
Sold 10/16/2024
Zan Colin
Harry James
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,221
Total Square Footage:4,708 SF
Transaction Type:Sale

The transaction involved a multifamily property located at 32 Avenue A in the East Village, Manhattan. The sale price was $5,750,000 for a total of 4 units. The property has a total square footage of 4,708, resulting in a price per unit of $1,437,500 and a price per square foot of $1,221.

Summary of transaction details:

This transaction featured key players including Viking Management as the buyer and ABJ Properties as the seller. The deal was facilitated by Harry James representing the buyer through Newmark, while the seller was represented by a team consisting of Zan Colin, Joseph Koicim, and Logan Markley from Marcus & Millichap.

Players

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

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

Zan Colin
Marcus & Millichap
24 deals$308M volume
BROKER

Harry James
Newmark
24 deals$315.3M volume
BROKER

Details

SOLD
IMAGE: Zan Colin, Joseph Koicim, Logan Markley & Harry James DATE: 10/16/2024 ADDRESS: 32 Avenue A MARKET: East Village, Manhattan ASSET TYPE: Multifamily BUYER: Viking Management SELLER: ABJ Properties BUYER'S REP: Harry James - Newmark SELLER'S REP: Zan Colin (@Zan_Colin), Joseph Koicim (@Joey1Cap) & Logan Markley (@LogantMarkley) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $5,750,000 UNITS: 4 ~ PPU: $1,437,500 SF: 4,708 ~ PPSF: $1,221

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20