Updated Oct 29, 2024
Trans World Equities Acquires Multi-Family Property In Manhattan For $13.75M
687 8th Ave, New York, NY 10036, USA
Building Size
77,600 SF
Asset Type
MultiFamily
Closing
May 31, 2018
About this deal
AI
The multi-family property located at 687 Eighth Avenue in Manhattan, New York has been sold in a closed transaction for a price of $13,750,000. The property spans across 7,760 square feet, resulting in a price per square foot of $1,771.
Summary of transaction details
- Property Type: Multi-Family
- Transaction Amount: $13,750,000
- Square Footage: 7,760
- Price per Square Foot: $1,771
- Seller: Quad Real Investments – George Zazzali
- Buyer: Trans World Equities
Trans World Equities has acquired the multi-family property from Quad Real Investments, with George Zazzali representing the seller. The deal was successfully closed, marking a significant transaction in the Manhattan market.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93