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600 Columbus Ave New York, ...

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

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

600 Columbus Ave New York, NY 10024, USA

$120,000,000

$685/SF

Building Size

175,000 SF

Asset Type

MultiFamily

Closing

May 26, 2023

AI

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 Hageman

JLL

Broker

$2.6B

vol

60 deals

Broker
Slate Property Group
Slate Property GroupBuyer
Slate Property Group
Slate Property GroupLender

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

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93