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340 East 9th Street, Manhat...

Alchemy Ventures Acquires Multifamily Property In East Village For $5.975M With Buyer's Rep Sam Kooris
SOLDMultiFamily

Alchemy Ventures Acquires Multifamily Property In East Village For $5.975M With Buyer's Rep Sam Kooris

340 East 9th Street, Manhattan, New York, NY, USA

$5,975,000

$818/SF

Building Size

7,302 SF

Asset Type

MultiFamily

Closing

Feb 4, 2021

AI

A multifamily property located at 340 East 9th Street in the East Village was recently sold for a price of $5,975,000. The property consists of 10 units, including 9 residential units and 1 retail space. The total square footage of the property is 7,302, resulting in a price per square foot of $818. The buyer of the property is Sam Kooris from Alchemy Ventures, while the seller is Shimon Avadi. The transaction was facilitated by brokers Michael F. DeCheser and Bryan F. Hurley from CushWake.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,975,000
  • Address: 340 East 9th Street
  • Market: East Village
  • Zoning: R8B

In this deal, Sam Kooris from Alchemy Ventures acted as the buyer, while Shimon Avadi served as the seller. The transaction was successfully negotiated with the assistance of brokers Michael F. DeCheser and Bryan F. Hurley from CushWake.

Players

Bryan Hurley

Cushman & Wakefield

Broker

$428.3M

vol

42 deals

Broker
Sam Kooris

Sam Kooris

Alchemy Ventures

Buyer

$76.6M

vol

13 deals

Buyer

Shimon Avadi

Seller

$20.5M

vol

3 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

2.65%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93