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

Property Image
SOLD
$4,500,000
Zachary Fuchs

New York

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MultiFamily10,145 SF
Sold 12/30/2021
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Property Image
SOLD

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

424 East 73rd Street, New York, NY 10021

See Similar Deals
MultiFamily10,145 SF
Sold 12/30/2021
Zachary Fuchs
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$443
Total Square Footage:10,145 SF
Transaction Type:Sale

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
62 deals$322.8M volume
BROKER

Lena Rivera
15 deals$60M volume
BROKER

Details

SOLD
IMAGE: Zachary Fuchs & Lena Rivera DATE: 12/30/2021 ADDRESS: 424 East 73rd Street MARKET: Upper East Side, Manhattan ASSET TYPE: Multifamily SELLER: John Curreri BROKERS: Zachary Fuchs (@ZacharyDFuchs) - GFI Realty Services (@GFIRealty) & Lena Rivera - Link Realty SALE PRICE: $4,500,000 UNITS: 20 ~ PPU: $225,000 SF: 10,145 ~ PPSF: $443 NOTE FROM BROKER: First Sale Since 1979!

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
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