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503 W 169th St, New York, N...

Morris Arlos Acquires Washington Heights Multifamily From Alex Laszlo
SOLDMultiFamily

Morris Arlos Acquires Washington Heights Multifamily From Alex Laszlo

503 W 169th St, New York, NY 10032, USA

Building Size

21,102 SF

Asset Type

MultiFamily

Closing

Nov 28, 2020

AI

The multifamily property located at 503 West 169th Street in Washington Heights, New York, was recently sold for a price of $4,900,000. The property consists of 24 units with a price per square foot of $233. The total price per unit was estimated at $204,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,900,000
  • Price per Square Foot: $233
  • Number of Units: 24
  • Price per Unit: $204,000

The seller of the property was Alex Laszlo, while the buyer was Morris Arlos. The transaction was facilitated by brokers Josh Pomerantz and Rami Polinsky of HPNY, who represented both sides of the deal.

Players

Joshua Pomerantz

SP Capital Group

Broker

$142.6M

vol

31 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93