Updated Jan 30, 2026
Alchemy Ventures Acquires Multifamily Property From Soonbin Kim In East Village For $8.7M
78 East 1st Street
$8,700,000
$1,115/SF
Building Size
7,800 SF
Asset Type
MultiFamily
Closing
Jan 27, 2026
About this deal
AI
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.
On the Map
$8,700,000
$1,115/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93