Michael Chang Sells Multifamily Property In West Village For $5M With Brokers Lev Mavashev & Shai Egison
SOLD
$5,000,000
New York
See Similar DealsMultiFamily12,740 SF
Sold 03/26/2021
SOLD
Michael Chang Sells Multifamily Property In West Village For $5M With Brokers Lev Mavashev & Shai Egison
78-80 Christopher St, Manhattan, New York, NY, USA
See Similar DealsMultiFamily12,740 SF
Sold 03/26/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$392
Total Square Footage:12,740 SF
Transaction Type:Sale
A multifamily property located at 78-80 Chistopher St. in the West Village was recently sold for $5,000,000. The property spans 12,740 square feet, resulting in a price per square foot of $392. The sale took place on March 26, 2021, and the asset had an asking price of $9,000,000. The property's Gross Rent Multiplier (GRM) is 11x, and the capitalization rate (CAP) is 4.4%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Seller: Michael Chang
- Brokers: Lev Mavashev & Shai Egison - Alpha Realty NY
Lev Mavashev and Shai Egison from Alpha Realty NY represented the seller, Michael Chang, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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