Chestnut Holdings Acquires Multifamily Property At 70 74 East 116th St From BFC Partners For $5.425M
SOLD
$5,425,000
New York
See Similar DealsMultiFamily21,000 SF
Sold 01/30/2018
SOLD
Chestnut Holdings Acquires Multifamily Property At 70 74 East 116th St From BFC Partners For $5.425M
70 74 East 116th St
See Similar DealsMultiFamily21,000 SF
Sold 01/30/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$258
Total Square Footage:21,000 SF
Transaction Type:Sale
The property involved in the transaction is located at 70 74 East 116th St, situated in the New York market. This MultiFamily asset was sold for $5,425,000.00 and encompasses a total square footage of 21,000.0 square feet.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $5,425,000.00
- Address: 70 74 East 116th St
- Market: New York
- Square Footage: 21,000.0
- Buyer: Chestnut Holdings
- Seller: BFC Partners
- Broker: Kobi Zamir - GFI Realty Services
Key individuals in the transaction include the buyer, Chestnut Holdings, and the seller, BFC Partners. The deal was facilitated by the broker representative, Kobi Zamir from GFI Realty Services, who managed the transaction process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$289,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,273.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,717.27
Annual Debt Service$308,607.21
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