The Mizrahi Family Acquires Multifamily Property On West 87th Street For $6M
SOLD
$6,000,000
New York
See Similar DealsMultiFamily8,861 SF
Sold 11/02/2023
SOLD
The Mizrahi Family Acquires Multifamily Property On West 87th Street For $6M
46 West 87th Street
See Similar DealsMultiFamily8,861 SF
Sold 11/02/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$677
Total Square Footage:8,861 SF
Transaction Type:Sale
The recently closed transaction on 46 West 87th Street in the Upper West Side involved the sale of a multifamily property. The property comprises 13 units with a total of 8,861 square feet. The sale price for this property was $6,000,000, resulting in an average price per unit of $461,538 and a price per square foot of $677.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Units: 13
- Average Price Per Unit: $461,538
- Square Feet: 8,861
- Price Per Square Foot: $677
- Market: Upper West Side
The buyer of this property was The Mizrahi Family, represented by Patrick Dugan from Dusk Group. The seller's representative in this deal was Anton Kipel from Venture Capital Properties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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