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670 West 193rd Street, New ...

Seven Equities Acquires Multifamily Property In Washington Heights For $3.35M
SOLDMultiFamily

Seven Equities Acquires Multifamily Property In Washington Heights For $3.35M

670 West 193rd Street, New York City, New York 10040, United States

$3,350,000

$272/SF

Building Size

12,280 SF

Asset Type

MultiFamily

Closing

Dec 13, 2021

AI

An multifamily property located at 670 W. 193rd Street in Washington Heights has been sold for a price of $3,350,000. The property spans across 12,280 square feet, resulting in a price per square foot of $272. It consists of 22 units, with a price per unit of $160,000. The sale was facilitated by Sam Schertz from Schuckman Realty, representing both the buyer, Seven Equities, and the seller, Coral Management.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,350,000
  • Address: 670 W. 193rd Street
  • Market: Washington Heights
  • Asset Type: Multifamily
  • Zoning: R7-2

In addition to this deal, Sam Schertz is also working on various other transactions in the same area. For further information, you can reach out to Sam Schertz at [email protected].

Note: Each unit in the property was sold for $160,000, while the price per square foot was $272.

Players

Sam Schertz

Schuckman Realty

Broker

$90.5M

vol

10 deals

Broker

Morris Sarway

Buyer

$30.5M

vol

3 deals

Buyer

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

4.74%

Cash-on-Cash

-1.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93