Fetner Properties & Farallon Capital Acquire Multifamily On Upper East Side
SOLD
$75,000,000
New York
See Similar DealsMultiFamily179,000 SF
Sold 06/21/2024
SOLD
Fetner Properties & Farallon Capital Acquire Multifamily On Upper East Side
85 East End Avenue
See Similar DealsMultiFamily179,000 SF
Sold 06/21/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$419
Total Square Footage:179,000 SF
Transaction Type:Sale
The multifamily property located at 85 East End Avenue in Upper East Side was sold for $75,000,000. The property consists of 155 units with a price per unit of $483,871. The total square footage of the property is 179,000, with a price per square foot of $419.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $75,000,000
- Buyer: Fetner Properties & Farallon Capital Management
- Seller: Blackrock
- Brokers: Doug Middleton, William Shanahan & Nicole Okoli - CBRE
The sale of the property at 85 East End Avenue was facilitated by the brokerage team of Doug Middleton, William Shanahan, and Nicole Okoli from CBRE. Fetner Properties & Farallon Capital Management served as the buyers, while Blackrock acted as the sellers in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16
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