Nak Mun Purchases Multifamily Property In Midtown South For $16.5M
$16,500,000
$545/SF
Building Size
30,264 SF
Asset Type
MultiFamily
Closing
May 31, 2024
AI
The multifamily property located at 51-55 West 35th Street in Midtown South was sold for $16,500,000. The property spans 30,264 square feet, resulting in a price per square foot of $545. The transaction involved the buyer Nak Mun and the seller Diana Jong. The property was represented by Stacy Gim from Compass and Brandon Polakoff from Avison Young.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Market: Midtown South
- Buyer: Nak Mun
- Seller: Diana Jong
- Brokers: Stacy Gim - Compass & Brandon Polakoff - Avison Young
Stacy Gim from Compass and Brandon Polakoff from Avison Young were the key individuals involved in facilitating the sale of the multifamily property at 51-55 West 35th Street. Nak Mun acted as the buyer, while Diana Jong served as the seller in this transaction.
Players
Market 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