Updated Dec 21, 2023
Alan Manocherian Acquires Multifamily Property On Upper East Side For $2.8M
402 E 73rd St, Upper East Side
$2,800,000
$54/SF
Building Size
51,480 SF
Asset Type
MultiFamily
Closing
Oct 25, 2020
About this deal
AI
A multifamily property located at 402 East 73rd Street in the Upper East Side of NYC has been sold in a recent transaction. The property, consisting of 10 units and spanning 5,148 square feet, was purchased by Alan Manocherian.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,800,000
- Address: 402 East 73rd Street
- Market: Upper East Side
The sale of the property was facilitated by Peter Von Der Ahe, Joe Koicim, Danny Handweiler, and Jared Berkey from Marcus & Millichap, representing the seller, Scott Lerman. Alan Manocherian was represented by his broker team from NewYorkMultifamily.
The property was sold for a price of $2,800,000, with a price per square foot of $544. Each of the 10 units was sold at an average price of $280,000.
Players
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93