David Speiser Acquires East Village Multifamily For $8.4M
SOLD
$8,379,598
New York
See Similar DealsMultiFamily9,533 SF
Sold 05/12/2021
SOLD
David Speiser Acquires East Village Multifamily For $8.4M
334 East 9th Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily9,533 SF
Sold 05/12/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$879
Total Square Footage:9,533 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$446,911.90
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,770.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,723.57
Annual Debt Service$476,682.84
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