Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $36,000,000
- Buyer: John Choi
- Seller: Sachs Companies
- Brokers: Aaron Jungreis, Alex Fuchs & Ben Khakshoor - Rosewood Realty Group; Sterling Heatley
- Address: 65 West 55th Street
- Market: Midtown Manhattan
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.
On the Map
$36,000,000
$321/SF
MultiFamily
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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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93