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66 West 88th Street, Manhat...

Irwin Levy Sells Multifamily Property On Upper West Side For $17M With Broker Team From Marcus & Millichap
SOLDMultiFamily

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

Haley Hasho

Exodus Capital

Broker

$378.2M

vol

47 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker

Irwin Levy

Seller

$36.3M

vol

3 deals

Seller

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