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Alchemy Ventures Acquires Multifamily Property From Soonbin Kim In East Village For $8.7M
SOLD
$8,700,000
New York
See Similar DealsMultiFamily7,800 SF
Sold 01/27/2026
SOLD
Alchemy Ventures Acquires Multifamily Property From Soonbin Kim In East Village For $8.7M
78 East 1st Street
See Similar DealsMultiFamily7,800 SF
Sold 01/27/2026
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,115
Total Square Footage:7,800 SF
Transaction Type:Sale
A multifamily asset located at 78 East 1st Street in the East Village, Manhattan was sold for $8,700,000. The property consists of eight units and spans a total area of 7,800 square feet, resulting in a price per square foot of $1,115.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,700,000
- Sale Date: 01/27/2026
- Address: 78 East 1st Street
- Market: East Village, Manhattan
- Size: 7,800 SF
- Price Per Square Foot: $1,115
- Buyer: Alchemy Ventures
- Seller: Soonbin Kim
- Seller's Company: Maxanne Realty
Alchemy Ventures acquired the property from Soonbin Kim, who represented the seller through Maxanne Realty in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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