John P McCarthy And Steve Dluzyn Acquire Multifamily Property In Yorkville, Manhattan For $6.6M
518 East 88th Street, Manhattan, New York, NY, USA
$6,625,000
$741/SF
Building Size
8,935 SF
Asset Type
MultiFamily
Closing
Nov 8, 2021
AI
Located in the vibrant neighborhood of Yorkville, Manhattan, this multifamily property at 518 East 88 Street has recently changed hands in a closed transaction.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $6,625,000
- Market: Yorkville, Manhattan
- Zoning: R8B
The buyers, John P McCarthy and Steve Dluzyn, acquired the property from the seller, Lisa Cohn.
Comprising a building square footage (BSF) of 10,068, this property is priced at $658 per BSF. With a total square footage (SF) of 8,935, the price per SF stands at $741.
Boasting a Floor Area Ratio (FAR) of 3.55, this property falls under tax class 2.
With a lot size of 2,517, the last recorded sale of this property occurred on January 28, 2014, for $5,725,000. Additionally, an alteration permit was issued on September 21, 2017.
The property dimension measures 25 ft x 100.67 ft.
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
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93