Kardia 192 Realty CORP. Acquires Multifamily Property In Lenox Hill For $14.75M
SOLD
$14,750,000
+ 1
New York
See Similar DealsMultiFamily28,160 SF
Sold 04/29/2022
SOLD
Kardia 192 Realty CORP. Acquires Multifamily Property In Lenox Hill For $14.75M
320 East 70th Street, New York City, New York 10021, United States
See Similar DealsMultiFamily28,160 SF
Sold 04/29/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$523
Total Square Footage:28,160 SF
Transaction Type:Sale
Located in Lenox Hill, the multifamily property at 320 E. 70th St. recently changed hands in a closed transaction. The sale was finalized on April 29, 2022, with a sale price of $14,750,000. The property spans a total of 28,160 square feet, resulting in a price per square foot of $523.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $14,750,000
- Address: 320 E. 70th St.
- Market: Lenox Hill
Kardia 192 Realty CORP., represented by Isidoros Sfikas, acquired the property from Davand Realty Corp., with Joyce Yeckes as the seller. The transaction was facilitated by Marco Lala, David Raciti, Jack Lala, and Michelle Lala from RM Friedland, who acted as the brokers for the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,403.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,922.53
Annual Debt Service$839,070.30
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