Clover Realty Sells Multifamily Property In Manhattan For $18 Million With Newmark Representation
336 338 West 11th Street, 218 West 17th Street & 226 West 17th Street
$18,000,000
$113/SF
Building Size
158,670 SF
Asset Type
MultiFamily
Closing
Feb 24, 2025
AI
The multifamily asset located at 336-338 West 11th Street & 218-226 West 17th Street in Manhattan has been sold for $18,000,000. This property features 122 units, with a price per unit of $147,540. The total square footage of the asset is 52,890, resulting in a price per square foot of $340.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,000,000
- Units: 122
- Price Per Unit: $147,540
- Square Footage: 52,890
- Price Per Square Foot: $340
- Seller: Clover Realty
- Seller's Representative: Eric Roth, Brett Siegel, Tyler Signora, Maurice Suede, Harry James, Mike Kavanagh & Christine Felling - Newmark
The transaction involved notable individuals from Newmark, with Eric Roth, Brett Siegel, Tyler Signora, Maurice Suede, Harry James, Mike Kavanagh, and Christine Felling representing Clover Realty in the sale. Their involvement highlights the collaborative effort in facilitating this multifamily property's transaction.
Players
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93