Albert Dauti Acquires Multifamily Property At 514 East 81st Street From The Pappas Family For $3.2M
514 East 81st Street
$3,200,000
$332/SF
Building Size
9,630 SF
Asset Type
MultiFamily
Closing
Mar 25, 2025
AI
The asset involved in this transaction is a multifamily property located at 514 East 81st Street in the Upper East Side market. The property was sold for $3,200,000, comprising 15 units. The total square footage of the asset is 9,630, with a price per unit of $213,333 and a price per square foot of $332.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Units: 15
- Square Footage: 9,630
- Price Per Unit: $213,333
- Price Per Square Foot: $332
- Buyer: Albert Dauti
- Seller: The Pappas Family
- Brokers: Richard Parsons & Stephen Shapiro - Citadel Realty Services
- Cap Rate: 4.5%
Richard Parsons and Stephen Shapiro represented the buyer, Albert Dauti, in this transaction, facilitating the sale on behalf of the buyer while ensuring all transactions were conducted efficiently.
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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93