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514 East 81st Street

Albert Dauti Acquires Multifamily Property At 514 East 81st Street From The Pappas Family For $3.2M
SOLDMultiFamily

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

Richard Parsons

Citadel Realty Services

Broker

$3.2M

vol

1 deal

Broker

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