Updated Oct 29, 2024
Landmark Holdings NYC Acquires Multifamily Property On W 48th St. For $5.05M
351 West 48th Street, New York, NY 10036
$5,050,000
$631/SF
Building Size
8,000 SF
Asset Type
MultiFamily
Closing
Jan 23, 2019
About this deal
AI
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.
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
3.14%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93