Updated Oct 28, 2024
MB Capital Assets Acquires Multifamily Property On Upper West Side For $3.52M
8 West 87th Street, Manhattan, New York, NY, USA
$3,525,000
$522/SF
Building Size
6,744 SF
Asset Type
MultiFamily
Closing
Oct 11, 2021
About this deal
AI
A multifamily property located at 8 West 87th Street in the Upper West Side has been sold for a total price of $3,525,000. The property has a building square footage of 6,744, with a price per square foot of $522. It consists of 9 units, resulting in a price per unit of $391,666. The property has a lot size of 2,130 square feet and is zoned as R10A. The transaction took place on October 12, 2021. The buyer of the property is MB Capital Assets, while the seller is James Robert Siegel.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,525,000
- Market: Upper West Side
- Zoning: R10A
- Building Square Footage: 6,744
- Price Per Square Foot: $522
- Number of Units: 9
- Price Per Unit: $391,666
- Sale Date: October 12, 2021
- Buyer: MB Capital Assets
- Seller: James Robert Siegel
The property has a Floor Area Ratio (FAR) of 3.35 and falls under Tax Class 2B. It has a lot dimension of 20 feet by 100.67 feet. The property previously underwent an alteration permit on June 6, 1995. Please note that no additional information is available regarding the property transaction.
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
4.50%
Cash-on-Cash
-1.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93