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Crest Realities Acquires Multifamily Property On Upper East Side For $8.1M

Property Image
SOLD
$8,125,000
Joseph (Joe) Koicim
Peter Von Der Ahe
David Lloyd
+ 3

New York

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MultiFamily118,580 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Crest Realities Acquires Multifamily Property On Upper East Side For $8.1M

424 E 75th St, New York, NY 10021, USA

See Similar Deals
MultiFamily118,580 SF
Sold
Joseph (Joe) Koicim
Peter Von Der Ahe
David Lloyd
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$68
Total Square Footage:118580 SF
Transaction Type:Sale

The multifamily property located at 424 East 75th Street in New York's Upper East Side was recently sold for a total price of $8,125,000. The property spans across 10,780 square feet, with each square foot priced at $754. It consists of 20 units, making it an attractive investment.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,125,000
  • Square Footage: 10,780 sf
  • Price per Square Foot: $754
  • Number of Units: 20

Alan Ziess acted as the seller in this transaction, while Crest Realities, represented by Aaron Drazin and Bruno Caruso, emerged as the buyer. The deal was brokered by Marcus & Millichap, with Bruno Caruso, Joe Koicim, Peter Von Der Ahe, David Lloyd, and Danny Handweiler actively involved in facilitating the sale.

Players

Peter Von Der Ahe
Marcus & Millichap
Peter Von Der Ahe
110 deals$1.4B volume
BROKER
Daniel (Danny) Handweiler
Raven Property Advisors
Daniel Handweiler
33 deals$320.3M volume(212) 430-5138
BROKER
David Lloyd
Marcus & Millichap
David Lloyd
13 deals$275.2M volume
BROKER
Joseph (Joe) Koicim
Marcus & Millichap
Joseph Koicim
167 deals$2.6B volume(212) 430-5147
BROKER
BC
Bruno Caruso
2 deals$35.6M volume
BUYER
CR
Crest Realities
BUYER
AZ
Alan Ziess
2 deals$15.6M volume
SELLER

Details

SOLD
IMAGE: Bruno Caruso, Joe Koicim,Peter Von Der Ahe, David Lloyd and Danny Handweiler DATE: 04/30/2018 ADDRESS: 424 East 75th Street CITY: New York MARKET: Upper East Side ASSET TYPE: Multifamily PRICE: $8,125,000 SF: 10,780 sf PPSF: $754 UNITS: 20 SELLER: Alan Ziess BUYER: Crest Realities – Aaron Drazin and Bruno Caruso BROKER: Marcus & Millichap […]

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

$433,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,866.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,516.65
Annual Debt Service$462,199.74