Updated Nov 19, 2023
Cetinkaya Family Acquires 4-Unit Multifamily In New York City For $2.9M
99 1st Place
$2,900,000
$805/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Feb 23, 2023
About this deal
AI
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.
Players
Market 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93