Landmark Holdings NYC Acquires Multifamily Property On W 48th St. For $5.05M
SOLD
$5,050,000
New York
See Similar DealsMultiFamily8,000 SF
Sold 01/24/2019
SOLD
Landmark Holdings NYC Acquires Multifamily Property On W 48th St. For $5.05M
351 West 48th Street, New York, NY 10036
See Similar DealsMultiFamily8,000 SF
Sold 01/24/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$631
Total Square Footage:8,000 SF
Transaction Type:Sale
The multifamily property located at 351 W 48th St. was recently sold for a price of $5.05 million. The property spans across 8,000 square feet, resulting in a price per square foot of $631. It consists of 8 units, with each unit having a price per unit of $631,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5.05 million
- Square Footage: 8,000
- Price per Square Foot: $631
- Number of Units: 8
- Price per Unit: $631,000
Landmark Holdings NYC, represented by Guy Smilovich, acquired the property from Michael & Louis Brusco. The transaction was facilitated by the brokerage firm, The Manhattes Group, with MichaelShermanNYC serving as the broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$269,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,941.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,939.58
Annual Debt Service$287,274.92
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