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501 East 83rd Street

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

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

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

Marcus & Millichap

Broker

$970.7M

vol

70 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker

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