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Scott Zelekowitz Acquires Multifamily In Fort George, Manhattan For $2.85M

Property Image
SOLD
$2,850,000
Seth Glasser
Michael (Mike) Fusco
+ 1

New York

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MultiFamily22,100 SF
Sold 06/07/2024
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Property Image
SOLD

Scott Zelekowitz Acquires Multifamily In Fort George, Manhattan For $2.85M

494 Audubon Avenue

See Similar Deals
MultiFamily22,100 SF
Sold 06/07/2024
Seth Glasser
Michael (Mike) Fusco
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$129
Total Square Footage:22,100 SF
Transaction Type:Sale

The multifamily property located at 494 Audubon Avenue in Fort George, Manhattan, was recently sold for $2,850,000. The property comprises 27 units with a price per unit of $105,556. The total square footage of the property is 22,100, making the price per square foot $129.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,850,000
  • Units: 27
  • Price Per Unit: $105,556
  • Square Footage: 22,100
  • Price Per Square Foot: $129
  • Address: 494 Audubon Avenue, Fort George, Manhattan

The transaction was facilitated by the brokers Seth Glasser, Michael Fusco, and Benny Katz from Marcus & Millichap, along with Dan Kaplan from CBRE. The buyer of the property was Scott Zelekowitz, while the seller was Melissa Vance.

Players

Michael (Mike) Fusco
88 deals$576.1M volume(973) 865-6303
BROKER

Seth Glasser
Marcus & Millichap
125 deals$1.1B volume
BROKER

Daniel (Dan) Kaplan
CBRE
55 deals$1.7B volume
BROKER

Benny Katz
Marcus & Millichap
34 deals$232.9M volume
BROKER

Details

SOLD
IMAGE: Michael Fusco, Seth Glasser & Benny Katz DATE: 06/07/2024 ADDRESS: 494 Audubon Avenue MARKET: Fort George, Manhattan ASSET TYPE: Multifamily BUYER: Scott Zelekowitz SELLER: Melissa Vance BROKERS: Seth Glasser (@SethGlasser1), Michael Fusco (@Mike_Fusco_NYM) & Benny Katz (@Bbbennis_2k) - Marcus & Millichap (@MarcusMillichapinc); Dan Kaplan - CBRE (@CBRE) SALE PRICE: $2,850,000 UNITS: 27 ~ PPU: $105,556 SF: 22,100 ~ PPSF: $129

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$151,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45