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501 East 87th Street

Douglas Eisenberg Acquires 501 East 87th Street Multifamily From Stefan Soloviev For $116.5M
SOLDMultiFamily

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

Jack Bick

S Charatan Realty

Broker

$631.3M

vol

9 deals

Broker
Douglas Eisenberg

Douglas Eisenberg

Buyer

$868M

vol

7 deals

Buyer

Stefan Soloviev

Seller

$169M

vol

5 deals

Seller

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