Updated Dec 4, 2024
Slate Property Group And Alcion Ventures Acquire Multifamily Rental In Union Square For $106.5M
60 E 12th St, New York, NY 10003, USA
$106,500,000
$918/SF
Building Size
116,000 SF
Asset Type
MultiFamily
Closing
Aug 14, 2019
About this deal
AI
The multifamily rental property located at 60 East 12th Street in Union Square has been sold in a closed transaction. The property spans 116,000 square feet and consists of 133 units. The sale price for this transaction was $106,500,000, resulting in a price per square foot of $918 and a price per unit of $800,751.
Summary of transaction details:
- Property Type: Multifamily Rental
- Transaction Amount: $106,500,000
- Address: 60 East 12th Street
- Market: Union Square
- Square Footage: 116,000
- Price per Square Foot: $918
- Units: 133
- Price per Unit: $800,751
The buyers of the property are Slate Property Group and Alcion Ventures. The seller in this transaction is Heller Realty. The buyer's representatives in this deal include Helen Hwang and Karen from Meridian Capital Group.
On the Map
$106,500,000
$918/SF
MultiFamily
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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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93