Marcus & Millichap Sells 715 Riverside Drive Multifamily Asset In Hamilton Heights For $8.65M
SOLD
$8,650,000
New York
See Similar DealsMultiFamily65,050 SF
Sold 08/15/2024
SOLD
Marcus & Millichap Sells 715 Riverside Drive Multifamily Asset In Hamilton Heights For $8.65M
715 Riverside Drive
See Similar DealsMultiFamily65,050 SF
Sold 08/15/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$133
Total Square Footage:65,050 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 715 Riverside Drive in the Hamilton Heights market. This asset comprises 49 units and has a total square footage of 65,050. The sale price of the property was $8,650,000, resulting in a price per unit of $176,530 and a price per square foot of $132.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,650,000
- Units: 49
- Square Footage: 65,050
- Price Per Unit: $176,530
- Price Per Square Foot: $132
The individuals involved in this deal include brokers Seth Glasser, Michael Fusco, and Benny Katz, representing Marcus & Millichap in the sale transaction. They played a critical role in the negotiation and execution of this multifamily property deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$461,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,731.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,005.41
Annual Debt Service$492,064.96
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