Kunal Shah Acquires Multifamily Property In Gramercy Park, Manhattan For $6.2M
SOLD
$6,226,060
New York
See Similar DealsMultiFamily3,803 SF
Sold 06/18/2021
SOLD
Kunal Shah Acquires Multifamily Property In Gramercy Park, Manhattan For $6.2M
340 East 19th Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily3,803 SF
Sold 06/18/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,637
Total Square Footage:3,803 SF
Transaction Type:Sale
The multifamily property located at 340 East 19 Street in Gramercy Park, Manhattan was sold on June 18, 2021. The property is zoned as R7B and has a total area of 3,803 square feet. The sale price for this transaction was $6,226,060, resulting in a price per square foot of $1,637. The previous sale of the property took place on September 2016 for a price of $3,900,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,226,060
- Address: 340 East 19 Street, Gramercy Park, Manhattan
- Market: Gramercy Park, Manhattan
- Zoning: R7B
The buyer of the property was Kunal Shah, while Michael L Landsman acted as the seller. The deal was facilitated by brokers Gian Mitchell, Matthew Lesser, Cameron LeCates, and Ravi Kantha from Leslie J. Garfield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$332,056.52
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,119.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,514.70
Annual Debt Service$354,176.41
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