Marcus & Millichap Sells Upper East Side Multifamily For $3.7M With Joe Koicim, Michael Salvatico, Logan Markley & Zan Colin
501 East 83rd Street
$3,675,000
$510/SF
Building Size
7,200 SF
Asset Type
MultiFamily
Closing
Jun 22, 2023
AI
The multifamily property located at 501 1/2 East 83rd Street in the Upper East Side recently went through a sale transaction. The property consists of 13 units with a total area of 7,200 square feet. The sale price for this asset was $3,675,000, resulting in a price per unit of $282,692 and a price per square foot of $510.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,675,000
- Units: 13
- Price Per Unit: $282,692
- Square Feet: 7,200
- Price Per Square Foot: $510
- Brokers: Joe Koicim, Michael Salvatico, Logan Markley, Zan Colin - Marcus & Millichap
The transaction involved the representation of the deal by Joe Koicim, Michael Salvatico, Logan Markley, and Zan Colin from Marcus & Millichap. They played a crucial role in facilitating the sale of this multifamily property in the Upper East Side.
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
4.32%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93