Michael Heletz Acquires Murray Hill Multifamily For $11.2M
SOLD
$11,200,000
New York
See Similar DealsMultiFamily10,625 SF
Sold 12/18/2018
SOLD
Michael Heletz Acquires Murray Hill Multifamily For $11.2M
345 East 33rd Street, New York, NY, USA
See Similar DealsMultiFamily10,625 SF
Sold 12/18/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,054
Total Square Footage:10,625 SF
Transaction Type:Sale
The multifamily property located at 345 East 33rd Street in Murray Hill has been sold in a closed transaction. The property spans a total of 10,625 square feet, with a sale price of $11.2 million. This equates to a price per square foot (PPSF) of $1,054. The seller of the property was JAM Real Estate Partners, represented by Jared Pinchasik. The buyer of the property was Michael Heletz. The transaction was facilitated by broker David Khorshad from the Plaza Group.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $11.2 million
- Square Footage: 10,625
- Market: Murray Hill
In August 2017, JAM Real Estate Partners had acquired the property for $7.2 million, demonstrating a successful investment. The sale of the property at 345 East 33rd Street marks another milestone for the parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$597,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,791.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,093.71
Annual Debt Service$637,124.57
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