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Clover Realty Sells Multifamily Property In Manhattan For $18 Million With Newmark Representation

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SOLD
$18,000,000
Tyler Signora
Brett Siegel
+ 4

New York

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MultiFamily158,670 SF
Sold 02/24/2025
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Property Image
SOLD

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

See Similar Deals
MultiFamily158,670 SF
Sold 02/24/2025
Tyler Signora
Brett Siegel
+ 4
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$113
Total Square Footage:158,670 SF
Transaction Type:Sale

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:

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

Brett Siegel
75 deals$6.4B volume(212) 372-0798
BROKER

Maurice Suede
Newmark
57 deals$929.6M volume(212) 589-5131
BROKER

Mike Kavanagh
Newmark
30 deals$301M volume(212) 660-7765
BROKER

Eric Roth
Newmark
61 deals$1.5B volume(212) 655-0625
BROKER

Tyler Signora
Newmark
37 deals$852.2M volume(212) 372-0759
BROKER

Harry James
Newmark
24 deals$315.3M volume
BROKER

Christine Felling
Newmark
6 deals$45.7M volume(212) 655-0678
BROKER

Details

SOLD
IMAGE: Eric Roth, Brett Siegel, Tyler Signora, Maurice Suede, Harry James, Mike Kavanagh & Christine Felling DATE: 02/24/2025 ADDRESS: 336-338 West 11th Street & 218-226 West 17th Street MARKET: Manhattan ASSET TYPE: Multifamily SELLER: Clover Realty SELLER'S REP: Eric Roth (@EricMRoth), Brett Siegel (@BSieges), Tyler Signora (@Tyler_Signora), Maurice Suede, Harry James, Mike Kavanagh (@KavanaghMike) & Christine Felling (@CFells13) - Newmark (@Newmark) SALE PRICE: $18,000,000 UNITS: 122 ~ PPU: $147,540 SF: 52,890 ~ PPSF: $340

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20