JLL Brokers $10.2M Sale Of Multifamily Asset In Washington Heights
SOLD
New York
See Similar DealsMultiFamily80,678 SF
Sold 11/08/2023
SOLD
JLL Brokers $10.2M Sale Of Multifamily Asset In Washington Heights
788 Riverside Drive
See Similar DealsMultiFamily80,678 SF
Sold 11/08/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$126
Total Square Footage:80,678 SF
Transaction Type:Sale
A multifamily property located at 788 Riverside Drive in Washington Heights has been sold for a total price of $10,200,000. The property consists of 62 units, with a price per unit of $164,516. The total square footage of the property is 80,678, with a price per square foot of $126.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,200,000
- Address: 788 Riverside Drive, Washington Heights
- Market: Washington Heights
- Units: 62
- Price per Unit: $164,516
- Total Square Footage: 80,678
- Price per Square Foot: $126
The sale of the property was facilitated by JLL, represented by brokers Paul Smadbeck, Hall Oster, Conrad Martin, Braedon Gait, Teddy Galligan, and Clint Olsen.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$544,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45
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