Douglas Eisenberg Acquires 501 East 87th Street Multifamily From Stefan Soloviev For $116.5M
501 East 87th Street
$116,500,000
$575/SF
Building Size
202,323 SF
Asset Type
MultiFamily
Closing
Mar 13, 2025
AI
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.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93