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65 West 55th Street

John Choi Acquires Multifamily Property In Midtown Manhattan From Sachs Companies For $36M
SOLDMultiFamily

John Choi Acquires Multifamily Property In Midtown Manhattan From Sachs Companies For $36M

65 West 55th Street

$36,000,000

$321/SF

Building Size

112,000 SF

Asset Type

MultiFamily

Closing

Jun 20, 2024

AI

Located in Midtown Manhattan, the multifamily property at 65 West 55th Street has been sold for $36,000,000. The property spans 112,000 square feet, resulting in a price per square foot of $321.

Summary of transaction details:

The transaction at 65 West 55th Street was facilitated by a team consisting of brokers Aaron Jungreis, Alex Fuchs, Ben Khakshoor from Rosewood Realty Group, along with Sterling Heatley, representing the interests of the buyer and seller. John Choi acquired the property from the Sachs Companies in this notable deal.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.3B

vol

205 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

0.44%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93