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Marcus & Millichap Sells Upper East Side Multifamily For $3.7M With Joe Koicim, Michael Salvatico, Logan Markley & Zan Colin

Property Image
SOLD
$3,675,000
Zan Colin
Michael (Mike) Salvatico
+ 2

New York

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MultiFamily7,200 SF
Sold 06/22/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells Upper East Side Multifamily For $3.7M With Joe Koicim, Michael Salvatico, Logan Markley & Zan Colin

501 East 83rd Street

See Similar Deals
MultiFamily7,200 SF
Sold 06/22/2023
Zan Colin
Michael (Mike) Salvatico
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$510
Total Square Footage:7,200 SF
Transaction Type:Sale

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

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

Logan Markley
70 deals$970.7M volume(212) 430-5194
BROKER

Michael (Mike) Salvatico
Marcus & Millichap
173 deals$787M volume(718) 475-4358
BROKER

Joseph (Joe) Koicim
Marcus & Millichap
172 deals$2.7B volume(212) 430-5147
BROKER

Zan Colin
Marcus & Millichap
24 deals$308M volume
BROKER

Kory Barbanel
6 deals$127.6M volume(732) 616-1481
BROKER

Details

SOLD
IMAGE: Logan Markley, Joe Koicim, Michael Salvatico & Zan Colin DATE: 06/22/2023 ADDRESS: 501 1/2 East 83rd Street MARKET: Upper East Side ASSET TYPE: Multifamily BROKERS: Joe Koicim (@Joey1Cap), Michael Salvatico (@MikeSalvatico), Logan Markley (@LogantMarkley) & Zan Colin (@Zan_Colin) - Marcus & Millichap SALE PRICE: $3,675,000 UNITS: 13 ~ PPU: $282,692 SF: 7,200 ~ PPSF: $510

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

$196,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,056.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,421.37
Annual Debt Service$209,056.50