Updated Dec 21, 2023
Daniel Levinas Acquires Multifamily Property On East 50th Street In Turtle Bay For $4.75M
416 East 50th Street, New York City, New York 10022, United States
$4,750,000
$1,319/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Jul 6, 2022
About this deal
AI
A multifamily property located at 416 East 50th Street in the Turtle Bay neighborhood of Manhattan has been sold for $4,750,000. The property has a building square footage (BSF) of 7,200 with a price per BSF (PPBSF) of $659. The total lot size is 1,800 square feet, with dimensions of 20 feet by 90 feet. The sale transaction took place on July 7, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,750,000
- Market: Turtle Bay, Manhattan
- Address: 416 East 50th Street
- BSF: 7,200
- PPBSF: $659
- Total Lot Size: 1,800 square feet
- Lot Dimension: 20 ft x 90 ft
- Zoning: R8B
- Tax Class: 1
- Floor Area Ratio (FAR): 2.00
The buyer of the property is Daniel Levinas, while the seller is Alexandra Joy Quitko.
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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93