JAM Real Estate Partners Acquires Multifamily Property On Upper East Side For $5M
SOLD
$5,000,000
New York
See Similar DealsMultiFamily9,925 SF
Sold 05/05/2021
SOLD
JAM Real Estate Partners Acquires Multifamily Property On Upper East Side For $5M
427 East 80th Street, New York, NY, USA
See Similar DealsMultiFamily9,925 SF
Sold 05/05/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$503
Total Square Footage:9,925 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 427 East 80th Street in the Upper East Side of New York. The property consists of 20 units with a total square footage of 9,925. The sale price for this transaction was $5,000,000, resulting in a price per unit of $250,000 and a price per square foot of $504.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 427 East 80th Street
- Market: Upper East Side
JAM Real Estate Partners, represented by Jared Pinchasick, acted as the buyer in this transaction. The seller was Larry Goldstein. The broker involved in facilitating this deal was Bob Knakal from JLL.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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