Updated Sep 9, 2024
Gehad Hadidi Acquires Multifamily Property In Midtown Manhattan For $8M
48 W 55th St, New York, NY 10019, USA
$8,000,000
$1,342/SF
Building Size
5,958 SF
Asset Type
MultiFamily
Closing
Jun 17, 2019
About this deal
AI
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].
Players
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93