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The Olnick Organization Acquires Hamilton Heights Multifamily For $19M

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SOLD
$19,000,000

New York

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MultiFamily29,442 SF
Sold 10/28/2019
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Property Image
SOLD

The Olnick Organization Acquires Hamilton Heights Multifamily For $19M

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

See Similar Deals
MultiFamily29,442 SF
Sold 10/28/2019
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$645
Total Square Footage:29,442 SF
Transaction Type:Sale

The multifamily property located at 542 W 153rd Street in Hamilton Heights was recently sold in a closed transaction. The property, with a total square footage of 29,442, consists of 34 units. The seller of the property was Taurus Investment Holdings & Synapse Development, while the buyer was The Olnick Organization. The sale price for the property was $19,000,000, with an asking price of $26,000,000. The price per square foot for the property was $645, and the price per unit was $558,823.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $19,000,000
  • Address: 542 W 153rd Street
  • Market: Hamilton Heights
  • Seller: Taurus Investment Holdings & Synapse Development
  • Buyer: The Olnick Organization
  • Asking Price: $26,000,000
  • Square Footage: 29,442
  • Price per Square Foot: $645
  • Units: 34
  • Price per Unit: $558,823

Justin Natalizio, Eric Anton, Chris Warner, Drew Goldsmith, and Seth Schochet were the brokers involved in the transaction.

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: Justin Natalizio, Eric Anton, Chris Warner, Drew Goldsmith, Seth Schochet DATE: 10/28/2019 ADDRESS: 542 W 153rd Street MARKET: Hamilton Heights ASSET TYPE: Multifamily SELLER: Taurus Investment Holdings & Synapse Development BUYER: The Olnick Organization BROKERS: Justin Natalizio, Eric Anton, Chris […] ASKING PRICE: $26,000,000 SALE PRICE: $19,000,000 SF: 29,442 PPSF: $645 UNITS: 34 PPU: $558,823

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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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