Katchis Family Acquires MultiFamily Property In Prospect Heights For $1.825M
SOLD
$1,825,000
New York
See Similar DealsMultiFamily8,560 SF
Sold 03/09/2023
SOLD
Katchis Family Acquires MultiFamily Property In Prospect Heights For $1.825M
457 Park Place
See Similar DealsMultiFamily8,560 SF
Sold 03/09/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$213
Total Square Footage:8,560 SF
Transaction Type:Sale
The multi-family property located at 457 Park Place in Prospect Heights has been sold for a price of $1,825,000. The property consists of 8 units, with each unit having a price per unit (PPU) of $228,125. The total square footage of the property is 8,560, resulting in a price per square foot (PPSF) of $213.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,825,000
- Units: 8
- PPU: $228,125
- Square Footage: 8,560
- PPSF: $213
The buyer of this property is the Katchis Family, while the seller is the Jones Family. The transaction was facilitated by the brokers Bobby Lawrence and Jack Murphy from B6 Real Estate Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$97,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,483.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,651.43
Annual Debt Service$103,817.17
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