Two80 Real Estate Ventures Acquires Fort George Multifamily For $6M
SOLD
$6,000,000
+ 4
New York
See Similar DealsMultiFamily34,040 SF
Sold 12/04/2023
SOLD
Two80 Real Estate Ventures Acquires Fort George Multifamily For $6M
35 Thayer Street
See Similar DealsMultiFamily34,040 SF
Sold 12/04/2023
+ 4
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:34,040 SF
Transaction Type:Sale
A multifamily property located at 35 Thayer Street in the Fort George neighborhood of Manhattan has been sold in a recent transaction. The property consists of 53 units with a price per unit (PPU) of $113,208. The total square footage of the property is 34,040, resulting in a price per square foot (PPSF) of $176. The sale price for the property was $6,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Units: 53
- PPU: $113,208
- Total Square Footage: 34,040
- PPSF: $176
The buyers of this multifamily property are Jesse Deutch, Daniel Wechsler, and Michael DiFonzo from Two80 Real Estate Ventures. The transaction was facilitated by brokers Seth Glasser, Michael Fusco, Benny Katz, and Shaun Riney from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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