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334 East 9th Street, Manhat...

David Speiser Acquires East Village Multifamily For $8.4M
SOLDMultiFamily

David Speiser Acquires East Village Multifamily For $8.4M

334 East 9th Street, Manhattan, New York, NY, USA

$8,379,598

$879/SF

Building Size

9,533 SF

Asset Type

MultiFamily

Closing

May 11, 2021

AI

A multifamily property located at 334 East 9th Street in East Village, Manhattan has been sold. The property is zoned as R8B and has a lot size of 2,352 square feet. The building has a total of 9,392 square feet of buildable space, with a price per buildable square foot of $892. The total lot size is 9,533 square feet, with a price per square foot of $879. The property has a floor area ratio (FAR) of 4.06 and falls under tax class 2. The last sale of this property was on September 10, 2015, for a price of $7,100,000. Permits for alteration type 3 were issued on July 28, 2017. The lot dimensions are 25 feet by 93.92 feet.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $8,379,598
  • Buyer: David Speiser
  • Seller: David Goldwasser

This transaction involved David Speiser as the buyer and David Goldwasser as the seller.

Players

David Speiser

Madison Realty Capital

Buyer

$84.5M

vol

7 deals

Buyer
David Goldwasser

David Goldwasser

Seller

$39.5M

vol

5 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

1.89%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93