Updated Oct 28, 2024
Kunal Shah Acquires Multifamily Property In Gramercy Park, Manhattan For $6.2M
340 East 19th Street, Manhattan, New York, NY, USA
$6,226,060
$1,637/SF
Building Size
3,803 SF
Asset Type
MultiFamily
Closing
Jun 17, 2021
About this deal
AI
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.
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
2.55%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93