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Deergrow Development Acquires Two 5-Story Walk-Up Buildings In Manhattan For $12.7M

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SOLD
$12,700,000

New York

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MultiFamily
Sold 12/05/2017
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Property Image
SOLD

Deergrow Development Acquires Two 5-Story Walk-Up Buildings In Manhattan For $12.7M

569 West 192nd Street, New York, NY 10040

See Similar Deals
MultiFamily
Sold 12/05/2017
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale

The two 5-story walk-up buildings located at 560 and 569 W 192nd Street in New York have been sold for a total price of $12,700,000. The transaction took place on December 5, 2017, in the Manhattan market. The buildings were purchased by Deergrow Development from the seller, Russell Freidman. The sale was facilitated by the broker Lev Mavashev from Alpha Realty.

Summary of transation details

  • Property Type: Two 5-Story Walk-Up Buildings
  • Transaction Amount: $12,700,000
  • Price per Square Foot: $243
  • Address: 560 and 569 W 192nd Street, New York
  • Market: Manhattan

Deergrow Development, led by their representative Lev Mavashev from Alpha Realty, acquired the two 5-story walk-up buildings located at 560 and 569 W 192nd Street in New York for a total price of $12,700,000. The seller of the buildings was Russell Freidman. This transaction took place in the Manhattan market on December 5, 2017. The purchase of these properties reflects Deergrow Development's continued growth in the real estate market within New York.

Players

Lev Mavashev
105 deals$704M volume(212) 658-0955
BROKER


BUYER

Details

SOLD
IMAGE: 560 and 569 W 192nd Street DATE: 12/05/17 CITY: New York MARKET: Manhattan ASSET TYPE: Two 5-Story Walk-Up Buildings ( SWIPE ➡️) SELLER: Russell Freidman BUYER: Deergrow Development BROKER: Alpha Realty's @LevMavashev 🔥 PRICE: $12,700,000 PPSF: $243

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$677,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,120.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,204.48
Annual Debt Service$722,453.75