The Olnick Organization Acquires Hamilton Heights Multifamily For $19M
542 W 153 St, New York, NY 10031, USA
$19,000,000
$645/SF
Building Size
29,442 SF
Asset Type
MultiFamily
Closing
Oct 27, 2019
AI
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
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93