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324 East 84th Street, Brook...

Parke Leatherman & Jonathan Leifer Acquire Multifamily Property In Upper East Side For $9M
SOLDMultiFamily

Parke Leatherman & Jonathan Leifer Acquire Multifamily Property In Upper East Side For $9M

324 East 84th Street, Brooklyn, New York 11236, United States

$9,000,000

$534/SF

Building Size

16,840 SF

Asset Type

MultiFamily

Closing

Jan 31, 2022

AI

A multifamily property located at 324-326 E. 84th St. on the Upper East Side was recently sold for $9,000,000. The property consists of 40 units with an average price per unit of $225,000. The total square footage of the property is 16,840, resulting in a price per square foot of $534.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $9,000,000
  • Units: 40
  • Price Per Unit: $225,000
  • Square Footage: 16,840
  • Price Per Square Foot: $534

The buyers of the property are Parke Leatherman and Jonathan Leifer. They acquired the property from Milton Taube. The transaction was facilitated by brokers Jonny Yuran and Ron Solarz from Newmark.

Players

Jonny Yuran

Newmark

Broker

$67.9M

vol

6 deals

Broker

Jonathan Leifer

Buyer

$57.5M

vol

4 deals

Buyer

Milton Taube

Seller

$14M

vol

2 deals

Seller

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

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93