Updated Oct 28, 2024
City Skyline Realty Acquires East Harlem Multifamily From East Coast Holdings For $7.5M
322 East 126th Street, New York City, New York 10035, United States
$7,500,000
$216/SF
Building Size
34,684 SF
Asset Type
MultiFamily
Closing
Aug 7, 2022
About this deal
AI
A multifamily property located at 322 East 126th Street, 320 East 126th Street, and 318 East 126th Street in East Harlem has been sold. The transaction took place on August 8, 2022, with City Skyline Realty purchasing the property from East Coast Holdings.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $7,500,000
- Number of Units: 68
- Price Per Unit: $110,294
- Square Footage: 34,684
- Price Per Square Foot: $216
City Skyline Realty, represented by their agent, was the buyer in this transaction. East Coast Holdings acted as the seller. The sale price for the property was $7,500,000, with a total of 68 units, making the price per unit $110,294. The property has a total square footage of 34,684, resulting in a price per square foot of $216.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93