Updated Oct 29, 2024
FOK Family Acquires Multifamily Property On Grand Street In New York City For $23.75M
324 Grand Street
$23,750,000
$929/SF
Building Size
25,549 SF
Asset Type
MultiFamily
Closing
Jan 20, 2023
About this deal
AI
A multifamily property located at 324 Grand Street in New York City has been sold for a total of $23,750,000. The property spans 25,549 square feet, resulting in a price per square foot of $930.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $23,750,000
- Address: 324 Grand Street
- Market: New York City
The buyer in this transaction is FOK Family, while the seller is Empire Capital Holdings. Avison Young represented both parties in the deal, with Brandon Polakoff and Ryan McGuirl serving as the buyer's representatives, and Noah Kossoff and Joe Moran representing the seller.
Players
New York City 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93