Fairview Property Group Acquires East Village Multifamily For $19.05M With Brokers John Florek & Jonathan Schwartz
SOLD
$19,050,000
New York
See Similar DealsMultiFamily22,050 SF
Sold 06/28/2022
SOLD
Fairview Property Group Acquires East Village Multifamily For $19.05M With Brokers John Florek & Jonathan Schwartz
73 East 3rd Street, New York City, New York 10003, United States
See Similar DealsMultiFamily22,050 SF
Sold 06/28/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$863
Total Square Footage:22,050 SF
Transaction Type:Sale
A multifamily property located at 73-75 E. 3rd St. in the East Village has been sold for a total price of $19,050,000. The property consists of 48 units, with an average price per unit of $396,875. The total square footage of the property is 22,050, resulting in a price per square foot of $863.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $19,050,000
- Units: 48
- Price Per Unit (PPU): $396,875
- Square Footage (SF): 22,050
- Price Per Square Foot (PPSF): $863
- Address: 73-75 E. 3rd St.
- Market: East Village
The sale of this multifamily property was facilitated by John Florek and Jonathan Schwartz from Fairview Property Group. Fairview Property Group specializes in off-market properties throughout New York City, and if you are interested in learning more about other opportunities or joining their team in the future, you can reach them at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,015,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,680.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,306.72
Annual Debt Service$1,083,680.63
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