Updated Dec 21, 2023
Dore Friedman And Mordehy Haber Acquire Multifamily Property On East 53 Street In Turtle Bay
338 E 53 St, New York City, New York 10022, United States
$5,500,000
$655/SF
Building Size
8,387 SF
Asset Type
MultiFamily
Closing
Sep 22, 2021
About this deal
AI
The multifamily property located at 338 East 53 Street in Turtle Bay has been sold. The transaction took place on September 23, 2021. The property is zoned as R8B and has a building square footage (BSF) of 10,044. The price for the property was $5,500,000, resulting in a price per building square footage (PPBSF) of $547. The property itself spans across 8,387 square feet, with a price per square footage (PPSF) of $655.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 338 East 53 Street
- Market: Turtle Bay
- Zoning: R8B
- Building Square Footage (BSF): 10,044
- Price per Building Square Footage (PPBSF): $547
- Square Footage (SF): 8,387
- Price per Square Footage (PPSF): $655
Dore Friedman and Mordehy Haber acted as the buyers in this transaction, while Loretta Harvey was the seller. The deal was brokered by the representatives of the respective parties involved.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93