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43 E 41st St New York, NY 1...

Michael Siderakis Acquires 12-Unit MultiFamily Property In New York City For $2.775M
SOLDMultiFamily

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

Christen Portelli

Highcap Group

Broker

$83.3M

vol

9 deals

Broker

Peter Chin

Seller

$2.8M

vol

2 deals

Seller

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