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
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