Updated Dec 4, 2024
Nak Mun Acquires Multifamily Property On West 35th Street For $16.5M
51-55 West 35th Street
$16,500,000
$545/SF
Building Size
30,264 SF
Asset Type
MultiFamily
Closing
May 30, 2024
About this deal
AI
The multifamily property located at 51-55 West 35th Street in Midtown South was sold for $16,500,000. Spanning 30,264 square feet, the property was acquired by Nak Mun from seller Diana Jong.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Market: Midtown South
- Price per Square Foot: $545
- Buyer: Nak Mun
- Seller: Diana Jong
- Brokers: Brandon Polakoff, Ryan McGuirl & Kyle Sabath - Avison Young; Stacy Gim - Compass
The deal was facilitated by the brokers Brandon Polakoff, Ryan McGuirl, Kyle Sabath from Avison Young, and Stacy Gim from Compass, who represented the buyer and the seller in this transaction.
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93