Derby Copeland Capital Acquires Alphabet City Multifamily For $64M
58 Avenue a, New York City, New York 10009, United States
$64,000,000
$800/SF
Building Size
79,956 SF
Asset Type
MultiFamily
Closing
Sep 11, 2022
AI
The multifamily property located at 58-72 Avenue A in Alphabet City has been sold for a total price of $64,000,000. The property consists of 76 units, with an average price per unit of $842,105. The total square footage of the property is 79,956, with a price per square foot of $800.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,000,000
- Address: 58-72 Avenue A
- Market: Alphabet City
Derby Copeland Capital, represented by Jesse Hutcher, has acquired the property from Janet Zinberg and Joel Zinberg.
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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93