Updated Dec 19, 2023
CJ Morony Acquires Multifamily Property On Upper West Side For $2.9M
68 West 85th Street, Manhattan, New York, NY, USA
$2,900,000
$521/SF
Building Size
5,558 SF
Asset Type
MultiFamily
Closing
Sep 2, 2021
About this deal
AI
A multifamily property located at 68 West 85th Street in the Upper West Side neighborhood was recently sold for a price of $2,900,000. The property consists of 9 units with a total square footage of 5,558. The price per unit is approximately $322,222, and the price per square foot is around $521.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Address: 68 West 85th Street
- Market: Upper West Side
CJ Morony acted as the buyer in this transaction, while Michael Stout was the seller. The seller was represented by Hall Oster, Teddy Galligan, Paul Smadbeck, Conrad Martin, and Braedon Gait LL. Amara Fish from Brown Harris Stevens served as the buyer's representative.
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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93