Akiva Milgraum Of KJM Holdings Acquires Multifamily Property For $14.1M
529 East 85th Street
$14,100,000
$364/SF
Building Size
38,700 SF
Asset Type
MultiFamily
Closing
Jan 16, 2025
AI
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.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93