Updated Oct 28, 2024
Marin Management Corp Sells Upper East Side Multifamily Property For $16.3M With Marcus & Millichap
421 East 80th Street, New York City, New York 10075, United States
$16,300,000
$1,752/SF
Building Size
9,300 SF
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
A multifamily property located at 421 East 80th St. and 324-326 East 74th St. in the Upper East Side of New York has recently been sold for a total price of $16,300,000. The property, comprising 59 units, has a per unit price of $276,271 and spans a total area of 23,206 square feet. The sale price per square foot stands at $702. The transaction took place on July 8, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,300,000
- Units: 59
- Price per Unit: $276,271
- Square Feet: 23,206
- Price per Square Foot: $702
- Address: 421 East 80th St. & 324-326 East 74th St., Upper East Side, New York
- Market: Upper East Side
The buyer of the property remains undisclosed, while the seller is Marin Management Corp. The deal was facilitated by Joe Koicim and Logan Markley, representatives from Marcus & Millichap.
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
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93