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405 W 45th St New York, NY ...

JLL Sells Multifamily Property In New York City For $8.5M
SOLDMultiFamily

JLL Sells Multifamily Property In New York City For $8.5M

405 W 45th St New York, NY 10036, USA

$8,500,000

$403/SF

Building Size

21,090 SF

Asset Type

MultiFamily

Closing

May 3, 2023

AI

The multifamily property located at 405 West 45th Street in New York City has been sold for a price of $8,500,000. The property consists of 30 units, with a price per unit of $283,333. The total square footage of the property is 21,090, with a price per square foot of $403.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,500,000
  • Units: 30
  • Price per Unit: $283,333
  • Total Square Footage: 21,090
  • Price per Square Foot: $403
  • Address: 405 West 45th Street, New York City

The sale of this property was facilitated by the seller's representatives from JLL, namely Robert Knakal, Jonathan Hageman, Hall Oster, Paul Smadbeck, and Conrad Martin.

Players

Jonathan Hageman

JLL

Broker

$2.6B

vol

60 deals

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

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93