Jason Park Acquires Multifamily Property On East 83rd Street, Yorkville, Manhattan For $6.95M
SOLD
$6,950,000
New York
See Similar DealsMultiFamily8,230 SF
Sold 01/03/2024
SOLD
Jason Park Acquires Multifamily Property On East 83rd Street, Yorkville, Manhattan For $6.95M
532 East 83rd Street
See Similar DealsMultiFamily8,230 SF
Sold 01/03/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$844
Total Square Footage:8,230 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 532 East 83rd Street in the Yorkville neighborhood of Manhattan. The property consists of 11 units with a sale price of $6,950,000, resulting in a price per unit of $631,818. The total square footage of the property is 8,230, with a price per square foot of $844.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,950,000
- Units: 11
- Price Per Unit: $631,818
- Square Footage: 8,230
- Price Per Square Foot: $844
- Address: 532 East 83rd Street
- Market: Yorkville, Manhattan
The buyer in this transaction is Jason Park, while the seller is Sean Lavin. The brokers involved in the deal are Shay Zach from GAIA Property Group and Jin Hee Son from Brooklyn Real Property Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$370,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,691.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,946.55
Annual Debt Service$395,358.55
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