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Olnick Organization Acquires Property From Synapse Development Group For $19 Million

Property Image
SOLD
$19,000,000

New York

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MultiFamily
Sold 11/04/2019
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Property Image
SOLD

Olnick Organization Acquires Property From Synapse Development Group For $19 Million

542 W 153rd St, New York, NY, 10031

See Similar Deals
MultiFamily
Sold 11/04/2019
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of Perch Harlem, a 34-unit apartment building located at 542 W 153rd St, New York, NY, in the Hamilton Heights neighborhood of Manhattan. The property was sold for $19,000,000.00, with a total square footage of 0, indicating that the transaction reflects full ownership of the building without specific square footage details mentioned.

Summary of transaction details:

  • Property Type: Apartment Building
  • Transaction Amount: $19,000,000.00
  • Address: 542 W 153rd St, New York, NY 10031
  • Market: New York
  • Buyer: Olnick Organization
  • Seller: Synapse Development Group
  • Buyer's Representative: Justin Michael Natalizio (Marcus & Millichap), Christopher Warner (Marcus & Millichap)
  • Seller's Representative: Eric Anton, Justin Natalizio, Christopher Warner (Marcus & Millichap)

The brokerage firm Marcus & Millichap facilitated the transaction, representing both the buyer and the seller in the deal. The seller was a joint venture between Taurus Investment Holding and Synapse Development Group. Key representatives from Marcus & Millichap included Eric Anton, Justin Natalizio, and Christopher Warner.

Players

 Christopher (Chris) Warner
5 deals$166.5M volume(203) 703-8688
BROKER

Justin Michael Natalizio
Compass
16 deals$608.9M volume(917) 685-6988
BROKER

BUYER

Details

SOLD
IMAGE: 542 W 153rd St, New York, NY, 10031 MARKET: New York BUYER'S REP: Justin Michael Natalizio(Marcus & Millichap), Christopher Warner(Marcus & Millichap) BUYER: Olnick Organization SELLER: Synapse Development Group PRICE: $19,000,000.00 SF: 0

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
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