Douglas Eisenberg Acquires 501 East 87th Street Multifamily From Stefan Soloviev For $116.5M
SOLD
$116,500,000
+ 1
New York
See Similar DealsMultiFamily202,323 SF
Sold 03/13/2025
SOLD
Douglas Eisenberg Acquires 501 East 87th Street Multifamily From Stefan Soloviev For $116.5M
501 East 87th Street
See Similar DealsMultiFamily202,323 SF
Sold 03/13/2025
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$575
Total Square Footage:202,323 SF
Transaction Type:Sale
The multi-family property located at 501 East 87th Street in New York has been sold for a total of $116,500,000.00. This asset features 179 units and encompasses a total square footage of 202,323.0. The transaction marks a significant addition to the New York market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $116,500,000.00
- Address: 501 East 87th Street
- Market: New York
- Units: 179
- Square Footage: 202,323.0
- Buyer: Douglas Eisenberg
- Seller: Stefan Soloviev
- Brokers: Jack Bick (S Charatan Realty), Jack Bick (S Charatan Realty)
Douglas Eisenberg represents the buyer in this transaction, while Stefan Soloviev represents the seller. Both parties were supported by broker Jack Bick from S Charatan Realty, who facilitated the deal on behalf of both the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$413,899.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$552,269.44
Annual Debt Service$6,627,233.23
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