Irwin Levy Sells Multifamily Property On Upper West Side For $17M With Broker Team From Marcus & Millichap
66 West 88th Street, Manhattan, New York, NY, USA
$17,000,000
$350/SF
Building Size
48,555 SF
Asset Type
MultiFamily
Closing
Jun 17, 2021
AI
A multifamily property located at 66 West 88th Street in the Upper West Side of Manhattan has been sold for a total price of $17,000,000. The property consists of 48 units, with an average price per unit of $354,167. The total square footage of the property is 48,555, resulting in a price per square foot of $350. The sale took place on June 18, 2021.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Address: 66 West 88th Street
- Market: Upper West Side
The seller of the property was Irwin Levy. The transaction was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Seth Glasser, Danny Handweiler, and Haley Hasho from New York Multifamily and Marcus & Millichap. They represented the seller, ensuring a successful deal for all parties involved.
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93