Updated Oct 10, 2025
Slate Property Group Acquires Condo In Tribeca For $30 Million With JLL And Upland Property Advisors
81 Franklin Street
$30,000,000
$1,165/SF
Building Size
25,738 SF
Asset Type
MultiFamily
Closing
Sep 18, 2025
About this deal
AI
The property is a condo located at 81 Franklin Street in the Tribeca market. It has a sale price of $30,000,000, consisting of 11 units and a total square footage of 25,738. With a price per unit of $2,727,272 and a price per square foot of $1,165, this property represents a significant transaction in the area.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $30,000,000
- Units: 11
- Price Per Unit: $2,727,272
- Square Footage: 25,738
- Price Per Square Foot: $1,165
- Date of Transaction: 9/19/2025
The transaction involved buyers Slate Property Group. The brokers representing the deal were Guthrie Garvin, Clint Olsen, and Hall Oster from JLL, alongside Glenn Tolchin and Yoav Oelsner from Upland Property Advisors.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93