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338 E 53 St, New York City,...

Updated Dec 21, 2023

Dore Friedman And Mordehy Haber Acquire Multifamily Property On East 53 Street In Turtle Bay
SOLDMultiFamily

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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Deal FAQ

About $655 per square foot on a published $5.5M for 8,387 square feet (2021).

Browse New York multifamily sales on Traded.

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

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