Updated Dec 19, 2023
JLL Represents The Ritz Family In $12.15M Multifamily Sale At 59-61 West 70th Street, Upper West Side
59 West 70th Street, New York City, New York 10023, United States
$12,150,000
$853/SF
Building Size
14,240 SF
Asset Type
MultiFamily
Closing
Dec 2, 2021
About this deal
AI
The multifamily property located at 59-61 West 70th Street in the Upper West Side was recently sold for a total price of $12,150,000. The property consists of 10 units with an average price per unit of $1,215,000. The total square footage of the property is 14,240, resulting in a price per square foot of $853.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,150,000
- Units: 10
- Price per Unit: $1,215,000
- Total Square Footage: 14,240
- Price per Square Foot: $853
The sale of this property was facilitated by JLL, with Paul Smadbeck, Hall Oster, Teddy Galligan, Conrad Martin, and Braedon Gait representing the seller, The Ritz Family. Their expertise and negotiation skills played a crucial role in the successful completion of 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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93