Updated Dec 12, 2024
Kushner Companies Sells East Village Multifamily For $19.5M With Marcus & Millichap As Brokers
504 East 12th Street & 508 East 12th Street
$19,500,000
$316/SF
Building Size
30,856 SF
Asset Type
MultiFamily
Closing
Nov 8, 2023
About this deal
AI
The multifamily property located at 504-508 East 12th Street in the East Village of Manhattan has been sold in a closed transaction. The property consists of 58 units with a price per unit (PPU) of $336,207. The total square footage of the property is 30,856, resulting in a price per square foot (PPSF) of $632. The sale price for this transaction was $19,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,500,000
- Units: 58
- Price per Unit (PPU): $336,207
- Square Footage (SF): 30,856
- Price per Square Foot (PPSF): $632
The seller of this property was Kushner Companies. The deal was facilitated by the broker representatives from Marcus & Millichap, namely Joe Koicim, Logan Markley, Zan Colin, and Matt Berger.
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93