Updated Oct 29, 2024
Sowa Kousan, Inc Acquires Multifamily Property In Yorkville, Manhattan For $12M
506 East 84th Street New York, New York 10028, USA
$12,000,000
$1,487/SF
Building Size
8,065 SF
Asset Type
MultiFamily
Closing
May 16, 2023
About this deal
AI
Sowa Kousan, Inc. has acquired a 10-unit residential walkup building in Yorkville, Manhattan for $12 million from Makoto Susa. The property, located at 506 East 84th Street, has 8,065 square feet of built space and an additional 2,145 square feet of air rights, making a total buildable area of 10,216 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 506 East 84th Street, Yorkville, Manhattan
- Market: Yorkville, Manhattan
- Buyer: Sowa Kousan, Inc
- Seller: Makoto Susa
- BSF: 10,216
- Price per BSF: $1,175
- SF: 8,065
- Price per SF: $1,488
The buyer, Sowa Kousan, Inc., represented by their broker Sowa Kousan, Inc. - AGENCY, successfully completed the acquisition of this multifamily property. The seller, Makoto Susa, sold the property to Sowa Kousan, Inc. for a total price of $12 million.
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93