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Meridian Capital Group Facilitates $3.03M Multifamily Sale On Upper West Side

Property Image
SOLD
$3,026,000

New York

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MultiFamily6,420 SF
Sold 04/15/2024
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Property Image
SOLD

Meridian Capital Group Facilitates $3.03M Multifamily Sale On Upper West Side

45 West 87th Street

See Similar Deals
MultiFamily6,420 SF
Sold 04/15/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$471
Total Square Footage:6,420 SF
Transaction Type:Sale

The property at 45 West 87th Street, located in the Upper West Side of Manhattan, was involved in a recent closed transaction. The multifamily asset consists of 10 units with a total square footage of 6,420 square feet. The property was sold for $3,026,000, resulting in a price per unit of $302,600 and a price per square foot of $471.

Summary of transaction details:

David Schechtman, Abie Kassin, and Henry Barnathan from Meridian Capital Group represented the seller, Martin Wydra of Wydra Holdings, in this transaction at 45 West 87th Street. The deal underscores the active involvement of reputable brokers in facilitating successful property transactions in the real estate market.

Players

Abie Kassin
52 deals$1.6B volume(212) 468-5909
BROKER

David Schechtman
Meridian Capital Group
68 deals$1.8B volume
BROKER

Henry Barnathan
Meridian Capital Group
6 deals$64.4M volume(212) 468-5994
BROKER

Details

SOLD
IMAGE: David Schechtman & Henry Barnathan DATE: 04/15/2024 ADDRESS: 45 West 87th Street MARKET: Upper West Side, Manhattan ASSET TYPE: Multifamily SELLER: Martin Wydra - Wydra Holdings BROKERS: David Schechtman (@Team.Schechtman), Abie Kassin & Henry Barnathan - Meridian Capital Group (@Meridian.Capital.Group) SALE PRICE: $3,026,000 UNITS: 10 ~ PPU: $302,600 SF: 6,420 ~ PPSF: $471

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$161,386.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,750.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,344.78
Annual Debt Service$172,137.41