Michael Siderakis Acquires 12-Unit MultiFamily Property In New York City For $2.775M
43 E 41st St New York, NY 10017, USA
$2,775,000
$398/SF
Building Size
6,966 SF
Asset Type
MultiFamily
Closing
May 18, 2023
AI
The multi-family property located at 43-18 41st Street in New York City has been sold in a recent transaction. The property consists of 12 units with a total square footage of 6,966. The sale price for this transaction was $2,775,000, resulting in a price per unit of $231,250 and a price per square foot of $398.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,775,000
- Address: 43-18 41st Street, New York City
- Market: New York City
- Units: 12
- Price Per Unit: $231,250
- Square Footage: 6,966
- Price Per Square Foot: $398
The buyer for this transaction is Michael Siderakis, while the seller is Peter Chin. Representing the transaction was Christen Portelli from Highcap Group.
Players
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
5.72%
Cash-on-Cash
-1.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93