Updated May 12, 2025
Icon Realty Acquires 20-Unit Property On Hester Street, Lower East Side For $6.4M
61 Hester St, New York, NY 10002, USA
$6,400,000
$429/SF
Building Size
14,898 SF
Asset Type
MultiFamily
Closing
Apr 7, 2020
About this deal
AI
The property asset located at 61 Hester Street in the Lower East Side is characterized by a total price of $6,400,000. It comprises 14,898 square feet and includes 20 residential units, with a price per square foot of $429.
Summary of transaction details:
- Property Type: Asset
- Transaction Amount: $6,400,000
- Square Footage: 14,898
- Price per Square Foot: $429
- Units: 20
- Buyer: @IconRealty
- Seller: The Goldman Family
- Date: 04/08/2020
Terrence Lowenberg and Todd Cohen were involved in the transaction, representing the buyer in the deal, which highlights their role in facilitating the acquisition process.
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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93