Jacob Fulop Acquires Multifamily Property In Alphabet City For $5.25M
SOLD
$5,250,000
+ 1
New York
See Similar DealsMultiFamily6,985 SF
Sold 07/01/2022
SOLD
Jacob Fulop Acquires Multifamily Property In Alphabet City For $5.25M
631 East 6th Street, New York City, New York 10009, United States
See Similar DealsMultiFamily6,985 SF
Sold 07/01/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$751
Total Square Footage:6,985 SF
Transaction Type:Sale
The multifamily property located at 631 East 6th Street in Alphabet City has been sold in a closed transaction. The property consists of 10 units, with a total square footage of 6,985. The sale price for the property was $5,250,000, resulting in a price per unit of $525,000 and a price per square foot of $751.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,250,000
- Address: 631 East 6th Street
- Market: Alphabet City
- Buyer: Jacob Fulop
- Seller: The Bridge - Carole Gordon
- Units: 10
- Price per Unit: $525,000
- Square Footage: 6,985
- Price per Square Foot: $751
Jacob Fulop was the buyer in this transaction, while The Bridge - Carole Gordon represented the seller. This deal represents a significant investment opportunity in the Alphabet City market and showcases the demand for multifamily properties in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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