Witnick Real Estate Partners Acquires East Village Multifamily For $6.95M
417 East 9th Street, New York City, New York 10009, United States
$6,950,000
$738/SF
Building Size
9,410 SF
Asset Type
MultiFamily
Closing
Dec 13, 2021
AI
The multifamily property located at 417 East 9th Street in the East Village has been sold for a total of $6,950,000. The transaction took place on December 13, 2021. The property consists of 22 units, with an average price per unit of $315,909. It spans across 11,600 square feet, resulting in a price per square foot of $595.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,950,000
- Address: 417 East 9th Street, East Village
- Market: East Village
The buyer of the property is Witnick Real Estate Partners, represented by Isaac Abraham. The sale was facilitated by brokers Brandon Polakoff, James Nelson, and Alex Marolda from Avison Young.
Brandon Polakoff, James Nelson, and Alex Marolda from Avison Young played an instrumental role in the transaction as the buyer's representatives. Their expertise and negotiation skills ensured the successful completion of the deal.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.28%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93