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324 West 87th Street, Manha...

Updated Sep 9, 2024

Asaf Dror Acquires Multifamily Property At 324 West 87th Street In Upper West Side For $2.69M
SOLDMultiFamily

Asaf Dror Acquires Multifamily Property At 324 West 87th Street In Upper West Side For $2.69M

324 West 87th Street, Manhattan, New York, NY, USA

$2,690,000

$533/SF

Building Size

5,040 SF

Asset Type

MultiFamily

Closing

Jul 30, 2020

About this deal

AI

The multifamily property located at 324 West 87th Street on the Upper West Side has been sold for a total of $2,690,000. The transaction took place on July 30, 2021. The property consists of 8 units, with a price per unit of $336,250. It spans a total of 5,040 square feet, with a price per square foot of $533. The seller was Howard Greenberg, while the buyer was Asaf Dror. The seller's representatives were Eric Roth, Tyler Signora, and Harry James from Team Shapiro Building Sales and CushWake.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,690,000
  • Address: 324 West 87th Street
  • Market: Upper West Side
  • Units: 8
  • Price per Unit: $336,250
  • Square Footage: 5,040
  • Price per Square Foot: $533

It is worth noting that the property was delivered mostly vacant and was subject to an affordable program that required 35% of the building to be rented at affordable rates.

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$2,690,000

$533/SF

MultiFamily

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Players

Eric Roth

Newmark

Broker

$1.5B

vol

68 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

Asaf Dror

Buyer

$21.3M

vol

6 deals

Buyer
Bilt advertisement

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $533 per square foot on a published $2.7M for 5,040 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.90%

Cash-on-Cash

-1.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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