Gehad Hadidi Acquires Multifamily Property In Midtown Manhattan For $8M
SOLD
$8,000,000
+ 1
New York
See Similar DealsMultiFamily5,958 SF
Sold 06/18/2019
SOLD
Gehad Hadidi Acquires Multifamily Property In Midtown Manhattan For $8M
48 W 55th St, New York, NY 10019, USA
See Similar DealsMultiFamily5,958 SF
Sold 06/18/2019
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,342
Total Square Footage:5,958 SF
Transaction Type:Sale
The multifamily property located at 48 West 55th Street in Midtown has been sold in a closed transaction. The property features a total square footage of 5,958 and was listed with an asking price of $9,250,000. The final sale price was negotiated at $8,000,000, resulting in a price per square foot of $1,342.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Property Square Footage: 5,958
- Price per Square Foot: $1,342
- Address: 48 West 55th Street
- Market: Midtown
The seller of the property is Yves Picot, and the buyer is Gehad Hadidi. The transaction was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Logan Markley, and Danny Handweiler from NYMF - Marcus & [Placeholder].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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