JLL Sells Multifamily Property In New York City For $8.5M
SOLD
$8,500,000
+ 2
New York
See Similar DealsMultiFamily21,090 SF
Sold 05/03/2023
SOLD
JLL Sells Multifamily Property In New York City For $8.5M
405 W 45th St New York, NY 10036, USA
See Similar DealsMultiFamily21,090 SF
Sold 05/03/2023
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$403
Total Square Footage:21,090 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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