Updated Oct 29, 2024
Rick Herman's Prana Investments Acquires Inwood Multifamily For $8.75M
517 W 212th St, New York, NY 10034, USA
$8,750,000
$25/SF
Building Size
349,000 SF
Asset Type
MultiFamily
Closing
May 29, 2019
About this deal
AI
The multifamily property located at 517 West 212th Street in Inwood has been successfully sold in a closed transaction. The property spans a total of 34,900 square feet and was listed with an asking price of $10,495,000. The final sale price was reported at $8,750,000, resulting in a price per square foot of $250.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,750,000
- Address: 517 West 212th Street
- Market: Inwood
The sellers of the property were Frank & Peter Pecora of Teams Management, while the buyer was Rick Herman of Prana Investments. The transaction was facilitated by Marco Lala, Jack Lala, David Raciti, and Michelle Lala from an undisclosed agency.
On the Map
$8,750,000
$25/SF
MultiFamily
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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
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93