Updated Oct 29, 2024
Mohammad Alauddin Acquires Multifamily Property In East Village For $2.4M
347 East 4th Street, Manhattan, New York, NY, USA
$2,385,000
$742/SF
Building Size
3,212 SF
Asset Type
MultiFamily
Closing
Feb 8, 2021
About this deal
AI
A multifamily property located at 347 East 4th Street in the East Village neighborhood has been sold. The property was previously used as a Community Facility group home and has a total size of 3,212 square feet. The sale was completed on February 9, 2021, with a sale price of $2,385,000, resulting in a price per square foot of $742. The buyer, Mohammad Alauddin, plans to convert the property into either a single-family or a three-family home.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,385,000
- Address: 347 East 4th Street
- Market: East Village
- Buyer: Mohammad Alauddin
- Seller: Community Access
- Brokers: Michael F. DeCheser & Bryan F. Hurley
- Square Footage: 3,212
- Price per Square Foot: $742
The sale of the property was facilitated by brokers Michael F. DeCheser and Bryan F. Hurley from Team DeCheser at CushWake. They represented the buyer and seller in the transaction.
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
6.65%
Cash-on-Cash
-1.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93