Neue Urban Acquires TriBeCa Multifamily For $6M Via Marcus & Millichap
83 Warren Street
$6,000,000
$672/SF
Building Size
8,925 SF
Asset Type
MultiFamily
Closing
Feb 28, 2023
AI
A multifamily property located at 83 Warren Street in TriBeCa has been sold for a price of $6,000,000. The property consists of 5 units with an average price per unit (PPU) of $1,200,000. The total square footage of the property is 8,925, with a price per square foot (PPSF) of $672.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Units: 5
- PPU: $1,200,000
- Square Footage: 8,925
- PPSF: $672
The buyer of the property is Neue Urban, represented by Zach Erlich. The seller is Ben Gruberg. The brokerage team involved in the deal includes Matthew Fotis and Colton Traynham from Marcus & Millichap.
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93