Cetinkaya Family Acquires 4-Unit Multifamily In New York City For $2.9M
SOLD
$2,900,000
New York
See Similar DealsMultiFamily3,600 SF
Sold 02/23/2023
SOLD
Cetinkaya Family Acquires 4-Unit Multifamily In New York City For $2.9M
99 1st Place
See Similar DealsMultiFamily3,600 SF
Sold 02/23/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$805
Total Square Footage:3,600 SF
Transaction Type:Sale
The Cetinkaya Family has recently acquired a multifamily property located at 99 1st Place in New York City. The property consists of 4 units, with a total square footage of 3,600. The sale price for this transaction was $2,900,000, resulting in a price per unit of $725,000. The price per square foot is estimated to be $806.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Address: 99 1st Place, New York City
- Units: 4
- Price per Unit: $725,000
- Square Footage: 3,600
- Price per Square Foot: $806
The buyer in this transaction was the Cetinkaya Family, while the seller was the Svenelid Family. The Cetinkaya Family's representative in this deal was Dennis Cetinkaya.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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