Mangan Family Acquires 11-Unit Multifamily In New York City For $4.75M
SOLD
$4,750,000
New York
See Similar DealsMultiFamily9,440 SF
Sold 04/20/2023
SOLD
Mangan Family Acquires 11-Unit Multifamily In New York City For $4.75M
332 East 74th Street
See Similar DealsMultiFamily9,440 SF
Sold 04/20/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$503
Total Square Footage:9,440 SF
Transaction Type:Sale
The Mangan Family has acquired a multifamily property located at 332 East 74th Street in New York City. The property was sold by the Hupert Family in a transaction facilitated by Thomas Gammino and Patrick Donahue of B6 Real Estate Advisors. The sale, which closed on April 20, 2023, had a purchase price of $4,750,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,750,000
- Address: 332 East 74th Street, New York City
- Market: New York City
The multifamily property consists of 11 units with an average price per unit of $431,818. The total square footage of the property is 9,440, resulting in a price per square foot of $503. The cap rate for this transaction is 4.4%.
Thomas Gammino and Patrick Donahue, representing B6 Real Estate Advisors, served as the brokers for the deal. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08
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