Jesse Deutch's Two 80 Ventures Acquires Washington Heights Multifamily For $9.25M
SOLD
$9,250,000
+ 2
New York
See Similar DealsMultiFamily127,870 SF
Sold 11/17/2023
SOLD
Jesse Deutch's Two 80 Ventures Acquires Washington Heights Multifamily For $9.25M
75 Wadsworth Terrace & 89 Wadsworth Terrace
See Similar DealsMultiFamily127,870 SF
Sold 11/17/2023
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$72
Total Square Footage:127,870 SF
Transaction Type:Sale
A multifamily property located at 75-89 Wadsworth Terrace in Washington Heights has been sold in a closed transaction. The property consists of 81 units with a total square footage of 63,935. The sale price for this transaction was $9,250,000, resulting in a price per unit of $114,198 and a price per square foot of $145.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,250,000
- Address: 75-89 Wadsworth Terrace
- Market: Washington Heights
- Buyer: Jesse Deutch - Two 80 Ventures
- Seller's Representatives: Victor Sozio, Shimon Shkury, Alexander Taic & Jake Brody - Ariel Property Advisors
Jesse Deutch, representing Two 80 Ventures, acted as the buyer for this transaction. The seller was represented by Victor Sozio, Shimon Shkury, Alexander Taic, and Jake Brody from Ariel Property Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$493,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,863.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,849.72
Annual Debt Service$526,196.63
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