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615 West 176th Street

RPR Ventures Represents Ted Piper In $2.05M Washington Heights Multifamily Sale
SOLDMultiFamily

RPR Ventures Represents Ted Piper In $2.05M Washington Heights Multifamily Sale

615 West 176th Street

$2,050,000

$137/SF

Building Size

14,960 SF

Asset Type

MultiFamily

Closing

Aug 15, 2022

AI

The multifamily property located at 615 W. 176th St. in Washington Heights has been sold for a price of $2,050,000. The property consists of 17 units with an average price per unit (PPU) of $120,588. The total square footage of the property is 14,960, with a price per square foot (PPSF) of $137.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,050,000
  • Address: 615 W. 176th St.
  • Market: Washington Heights
  • Units: 17
  • PPU: $120,588
  • SF: 14,960
  • PPSF: $137

The seller of the property was Ted Piper. The transaction was facilitated by Ryan Perkoski and John Martisch from RPR Ventures. They represented both the buyer and the seller in the deal.

Players

John Martisch

Broker

$70.5M

vol

14 deals

Broker

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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93