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424 East 73rd Street, New Y...

John Curreri Sells Multifamily Property On Upper East Side For $4.5M
SOLDMultiFamily

John Curreri Sells Multifamily Property On Upper East Side For $4.5M

424 East 73rd Street, New York, NY 10021

$4,500,000

$443/SF

Building Size

10,145 SF

Asset Type

MultiFamily

Closing

Dec 30, 2021

AI

A multifamily property located at 424 East 73rd Street in the Upper East Side of Manhattan has been sold for a price of $4,500,000. The property consists of 20 units with an average price per unit of $225,000. The total square footage of the property is 10,145, resulting in a price per square foot of $443. The transaction took place on December 30, 2021.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,500,000
  • Units: 20
  • Price per Unit: $225,000
  • Square Footage: 10,145
  • Price per Square Foot: $443
  • Address: 424 East 73rd Street
  • Market: Upper East Side, Manhattan

This sale was the first one to occur since 1979. The transaction was facilitated by Zachary Fuchs from GFI Realty Services and Lena Rivera from Link Realty. They represented the seller, John Curreri.

Players

Zachary Fuchs

GFI Realty Services

Broker

$325.2M

vol

63 deals

Broker

John J. Curreri

Seller

$56.3M

vol

9 deals

Seller

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93