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Slate Property Group Purchases 173-Unit Multifamily Property In New York City For $120M

Property Image
SOLD
$120,000,000
Robert (Bob) Knakal
Jonathan (Jon) Hageman
Hall Oster
+ 2

New York

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MultiFamily175,000 SF
Sold 05/26/2023
the dealplayerscompscontact
Property Image
SOLD

Slate Property Group Purchases 173-Unit Multifamily Property In New York City For $120M

600 Columbus Ave New York, NY 10024, USA

See Similar Deals
MultiFamily175,000 SF
Sold 05/26/2023
Robert (Bob) Knakal
Jonathan (Jon) Hageman
Hall Oster
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$685
Total Square Footage:175,000 SF
Transaction Type:Sale

600 Columbus Avenue, a multifamily property located in New York City, has been sold in a recent transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $120,000,000
  • Units: 173
  • Price per Unit: $693,642
  • Square Footage: 175,000
  • Price per Square Foot: $686

The buyer, Slate Property Group, acquired the property through the representation of their brokers Robert Knakal, Jonathan Hageman, Hall Oster, Teddy Galligan, and Braedon Gait of JLL.

Players

Jonathan (Jon) Hageman
JLL
Jonathan Hageman
59 deals$2.5B volume(212) 812-5995
BROKER
Robert (Bob) Knakal
BK Real Estate Advisors
Robert Knakal
64 deals$3.2B volume(907) 509-9501
BROKER
Hall Oster
JLL
Hall Oster
88 deals$2.1B volume
BROKER
Teddy Galligan
JLL
Teddy Galligan
58 deals$854.9M volume
BROKER
Braedon Gait
JLL
Braedon Gait
37 deals$648.4M volume
BROKER
Slate Property Group
Slate Property Group
BUYER
Slate Property Group
Slate Property Group
LENDER

Details

SOLD
IMAGE: Jonathan Hageman, Braedon Gait, Robert Knakal, Teddy Galligan & Hall Oster DATE: 05/26/2023 ADDRESS: 600 Columbus Avenue MARKET: New York City ASSET TYPE: Multifamily BUYER: Slate Property Group BROKERS: Robert Knakal, Jonathan Hagemen, Hall Oster, Teddy Galligan & Braedon Gait - JLL SALE PRICE: $120,000,000 UNITS: 173 ~ PPU: $693,642 SF: 175,000 ~ PPSF: $686

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$426,334.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$568,861.22
Annual Debt Service$6,826,334.65