Donald Zucker Acquires Multifamily Property In Kips Bay For $11M
SOLD
$11,000,000
+ 3
New York
See Similar DealsMultiFamily1,376,280 SF
Sold
SOLD
Donald Zucker Acquires Multifamily Property In Kips Bay For $11M
402 3rd Ave #412, New York, NY 10016, USA
See Similar DealsMultiFamily1,376,280 SF
Sold
+ 3
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$8
Total Square Footage:1376280 SF
Transaction Type:Sale
The multifamily property located at 402-412 Third Avenue in Kips Bay has been sold in a closed transaction. The property spans 137,628 square feet and was listed with an asking price of $15,000,000. The sale price reached for the property was $11,000,000, resulting in a price per square foot of $79. The seller of the property was Leon Jamie.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Address: 402-412 Third Avenue, Kips Bay
- Market: Kips Bay
Donald Zucker was the buyer in this transaction, while John Ciraulo, Craig Waggner, JP Will, Mike Kavanagh, and Zach Larsen from CushWake represented the seller as their representatives.
Please note that additional information about the transaction is not available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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