Updated Nov 4, 2023
Adriana Arrao Acquires Hell's Kitchen Multifamily Building From James Gleason For $3.6M
714 11th Avenue New York, New York 10019, USA
$3,600,000
$592/SF
Building Size
6,075 SF
Asset Type
MultiFamily
Closing
Jul 26, 2023
About this deal
AI
A seven-unit residential walkup building located at 714 11th Avenue in Hell's Kitchen, Manhattan, has been sold for $3.6 million. The property was purchased by Adriana Arrao, operating through her company Westside Adventures LLC, from James Gleason's entity 714 West 11th Avenue Assoc. LLC.
Summary of transaction details
- Property Type: MultiFamily
- Sale Price: $3,600,000
- Building Square Footage (BSF): 9,054
- Price per BSF (PPBSF): $398
- Land Square Footage (SF): 6,075
- Price per Square Foot (PPSF): $593
Adriana Arrao, acting as the buyer, acquired the multi-family property in Hell's Kitchen. The seller, James Gleason, represented by 714 West 11th Avenue Assoc. LLC, completed the transaction with Adriana's company Westside Adventures LLC. The sale price for the property was $3.6 million.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93