Updated Dec 19, 2023
Ryan Offutt Acquires Multifamily Property In West Village, Manhattan For $8.5M
44 Jane Street, New York City, New York 10014, United States
$8,500,000
$2,006/SF
Building Size
4,236 SF
Asset Type
MultiFamily
Closing
May 30, 2022
About this deal
AI
The multifamily property located at 44 Jane Street in the West Village, Manhattan was recently sold in a closed transaction. The property has a zoning designation of C1-6 and is classified as a Tax Class 1. The lot size is 1,276 square feet with dimensions of 22.58 ft x 65.17 ft.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Building Square Footage: 4,389
- Price per Building Square Foot: $1,936
- Land Square Footage: 4,236
- Price per Land Square Foot: $2,006
- Floor Area Ratio (FAR): 3.32
The buyer of the property is Ryan Offutt, while the seller is Lawrence W. Rader. The transaction took place on May 31, 2022. The property's purchase price of $8,500,000 reflects its value and potential. This transaction marks an important deal in the West Village market, further highlighting the attractiveness of the area for real estate investments.
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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93