Neue Urban Acquires TriBeCa Multifamily For $6M Via Marcus & Millichap
SOLD
$6,000,000
New York
See Similar DealsMultiFamily8,925 SF
Sold 02/28/2023
SOLD
Neue Urban Acquires TriBeCa Multifamily For $6M Via Marcus & Millichap
83 Warren Street
See Similar DealsMultiFamily8,925 SF
Sold 02/28/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$672
Total Square Footage:8,925 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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