Akiva Milgraum Of KJM Holdings Acquires Multifamily Property For $14.1M
SOLD
$14,100,000
New York
See Similar DealsMultiFamily38,700 SF
Sold 01/16/2025
SOLD
Akiva Milgraum Of KJM Holdings Acquires Multifamily Property For $14.1M
529 East 85th Street
See Similar DealsMultiFamily38,700 SF
Sold 01/16/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$364
Total Square Footage:38,700 SF
Transaction Type:Sale
The multifamily property located at 529 East 85th Street in the Upper East Side has been sold for $14,100,000. The asset consists of 30 units, providing a price per unit of $470,000. With a total square footage of 38,700, the price per square foot stands at $364.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,100,000
- Units: 30
- Price per Unit: $470,000
- Square Footage: 38,700
- Price per Square Foot: $364
- Buyer: Akiva Milgraum - KJM Holdings
- Brokers: Brett Weisblum & Will Conrad - Cushman & Wakefield
- Market: Upper East Side
The transaction was facilitated by brokers Brett Weisblum and Will Conrad from Cushman & Wakefield, representing the buyer Akiva Milgraum of KJM Holdings in this multifamily property acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$751,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,094.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,841.19
Annual Debt Service$802,094.32
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