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675 West 187th Street, Manh...

Eric Miller Acquires Multifamily Property In Washington Heights For $6.8M
SOLDMultiFamily

Eric Miller Acquires Multifamily Property In Washington Heights For $6.8M

675 West 187th Street, Manhattan, New York, NY, USA

$6,800,000

$211/SF

Building Size

32,205 SF

Asset Type

MultiFamily

Closing

Jul 27, 2021

AI

An alteration type 2 permit was issued on March 13, 2019 for the property located at 675 West 187th Street in Washington Heights. The property has a lot size of 6,290 square feet, with dimensions of 74.08 ft x 85.75 ft. The multifamily asset has a total square footage of 32,205, with a price per square foot of $211. The transaction occurred on July 28, 2021, with a sale price of $6,800,000. The buyer was Eric Miller, and the seller was Maria Lescaille-Cespedes. The property's zoning is R7-2, C2-4, with a FAR of 5.12. The tax class for the property is 2.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $6,800,000
  • Market: Washington Heights
  • Address: 675 West 187th Street
  • Zoning: R7-2, C2-4
  • Buyer: Eric Miller
  • Seller: Maria Lescaille-Cespedes
  • Lot Size: 6,290 square feet
  • Permits: Alteration type 2 (03/13/2019)
  • Lot Dimensions: 74.08 ft x 85.75 ft

Notable parties involved in the deal include buyer Eric Miller and seller Maria Lescaille-Cespedes. The transaction was closed for a price of $6,800,000, with a price per square foot of $211. The property is located at 675 West 187th Street in Washington Heights, with a lot size of 6,290 square feet and dimensions of 74.08 ft x 85.75 ft.

Players

Eric Miller

Parkway Realty Associates

Broker

$149.2M

vol

8 deals

Broker

Eric Miller

Parkway Realty Associates

Buyer

$149.2M

vol

8 deals

Buyer

Maria Lescaille-Cespedes

Seller

$13.4M

vol

2 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

2.33%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93