Updated Dec 18, 2023
James Bray Kelly III Acquires Multi-Family Property In East Village, Manhattan For $5.8M
6 East 2nd Street, New York City, New York 10003, United States
$5,800,000
$903/SF
Building Size
6,420 SF
Asset Type
MultiFamily
Closing
Nov 18, 2021
About this deal
AI
The multi-family property located at 6 East 2 Street in East Village, Manhattan was recently sold. The transaction took place on November 19, 2021, with a sale price of $5,800,000. The property has a total square footage of 6,420 and a price per square foot of $903. The building's gross square footage is 6,408, and the price per gross square foot is $905. The property is classified under tax class 2A and has a lot size of 1,602. The last recorded sale of this property was for $0. The lot dimensions measure 25.67 ft x 63.17 ft.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $5,800,000
- Address: 6 East 2 Street
- Market: East Village, Manhattan
- Zoning: R8B, C6-1
- Buyer: James Bray Kelly III
- Seller: Mark A Klosner
- Total Square Footage: 6,420
- Price per Square Foot: $903
- Gross Square Footage: 6,408
- Price per Gross Square Foot: $905
- Tax Class: 2A
- Lot Size: 1,602
- Last Sale Price: $0
- Lot Dimensions: 25.67 ft x 63.17 ft
James Bray Kelly III acted as the buyer in this transaction, while Mark A Klosner was the seller. The property, with a floor area ratio (FAR) of 4.01, is ideally located in the East Village market of Manhattan. The deal represents a significant investment opportunity in the vibrant neighborhood.
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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93