Sfikas Family Acquires Multifamily Property In Yorkville For $11.3M
SOLD
$11,348,000
+ 1
New York
See Similar DealsMultiFamily215,000 SF
Sold 11/22/2019
SOLD
Sfikas Family Acquires Multifamily Property In Yorkville For $11.3M
525 E 88th St, New York, NY 10128, USA
See Similar DealsMultiFamily215,000 SF
Sold 11/22/2019
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$52
Total Square Footage:215,000 SF
Transaction Type:Sale
The multifamily property located at 525 East 88th Street in Yorkville has been sold for a price of $11,348,000. The property spans 21,500 square feet, resulting in a price per square foot of $528. The capitalization rate for this transaction stands at 4.3%. The seller of the property was Michael Adler, while the buyer was the Sfikas Family. The deal was facilitated by brokers Amit Doshi, Shallini Mehra, and Jonathan Shainberg.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $11,348,000
- SF: 21,500
- PPSF: $528
- CAP: 4.3%
- Seller: Michael Adler
- Buyer: Sfikas Family
- Brokers: Amit Doshi, Shallini Mehra & Jonathan Shainberg
The property, located just half a block from Gracie Mansion, offers a desirable location in Yorkville.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$605,226.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,317.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,795.31
Annual Debt Service$645,543.71
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