Updated Dec 4, 2024
David Gleitman & Adam Basuljevic Acquire Multifamily In Chelsea For $8.1M
321 West 16th Street
$8,100,000
$1,580/SF
Building Size
5,125 SF
Asset Type
MultiFamily
Closing
Mar 15, 2024
About this deal
AI
The multifamily property located at 321 West 16th Street in Chelsea, Manhattan, was recently sold for $8,100,000. The asset comprises 10 units with a price per unit of $810,000. The total square footage of the property is 5,125, resulting in a price per square foot of $1,580.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $8,100,000
- Buyer: David Gleitman & Adam Basuljevic - TARGO
- Seller:
- Brokers: Joseph Koicim, Logan Markley & Zan Colin - Marcus & Millichap
The deal involved David Gleitman and Adam Basuljevic as the buyers representing TARGO, while the seller was . Facilitating the transaction were brokers Joseph Koicim, Logan Markley, and Zan Colin from Marcus & Millichap.
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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93