Monarch Realty Holdings Acquires Multifamily Property In Manhattan For $8.9M
SOLD
$8,937,500
+ 1
New York
See Similar DealsMultiFamily9,300 SF
Sold 11/09/2022
SOLD
Monarch Realty Holdings Acquires Multifamily Property In Manhattan For $8.9M
427 East 80th Street
See Similar DealsMultiFamily9,300 SF
Sold 11/09/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$961
Total Square Footage:9,300 SF
Transaction Type:Sale
The multifamily property located at 427 E 80th Street in Manhattan was recently sold in a closed transaction. The property spans 9,300 square feet and was sold for a total price of $8,937,500, resulting in a price per square foot of $961.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,937,500
- Address: 427 E 80th Street
- Market: Manhattan
The buyer of the property was Monarch Realty Holdings, while JAM Real Estate Partners, represented by Jared Pinchasick, acted as the seller. The deal was facilitated by brokers Eric Karmitz, Alex Marolda, and James Nelson from Avison Young.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$476,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,753.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,368.31
Annual Debt Service$508,419.72
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