Updated Dec 21, 2023
Seth Glasser Of Marcus & Millichap Sells Multifamily Property In Washington Heights For $10.1M
596 Edgecombe Avenue, New York City, New York 10032, United States
$10,100,000
$217/SF
Building Size
46,485 SF
Asset Type
MultiFamily
Closing
May 30, 2022
About this deal
AI
The multifamily property located at 596 Edgecombe Ave. in Washington Heights, Manhattan has been sold for a total price of $10,100,000. The sale was facilitated by broker Seth Glasser of Marcus & Millichap. The property consists of 49 units, with an average price per unit of $206,122. It spans a total area of 46,485 square feet, with a price per square foot of $217.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,100,000
- Address: 596 Edgecombe Ave.
- Market: Washington Heights, Manhattan
- Broker: Seth Glasser - Marcus & Millichap
This transaction showcases the success of Seth Glasser from Marcus & Millichap in facilitating the sale of this multifamily property. With a prime location in Washington Heights, Manhattan, the property offers 49 units for residents. The average price per unit of $206,122 indicates the value of the property, which spans an area of 46,485 square feet. The price per square foot stands at $217, highlighting the attractiveness of the property's market value.
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93