Haimof Group Acquires Multifamily Property On East 83rd Street For $10M
SOLD
$10,000,000
New York
See Similar DealsMultiFamily750 SF
Sold 11/28/2018
SOLD
Haimof Group Acquires Multifamily Property On East 83rd Street For $10M
417 E 83rd St, New York, NY 10028, USA
See Similar DealsMultiFamily750 SF
Sold 11/28/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$13,333
Total Square Footage:750 SF
Transaction Type:Sale
The multifamily property located at 417 East 83rd Street has been sold for a price of $10,000,000. With a price per square foot (PPSF) of $603, the property spans a total of 16,572 square feet and consists of 25 units. The transaction took place on 11/28/2018.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- PPSF: $603
- Units: 25
Haimof Group, represented by Kamyar Haimof, acted as the buyer in this transaction. On the other side, the seller included Blackstone and Fairstead.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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