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88 E 111th St, New York, NY...

Ariel Property Advisors Facilitates $5.2M Multifamily Sale On E 111th St In New York
SOLDMultiFamily

Ariel Property Advisors Facilitates $5.2M Multifamily Sale On E 111th St In New York

88 E 111th St, New York, NY, 10029

$5,200,000

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The transaction involves the sale of a 28-unit multifamily building located at 88 E 111th St, New York, NY, 10029, in the New York market. The property includes two commercial spaces and was sold for $5,200,000.00.

Summary of transaction details:

The brokerage firm responsible for this transaction is Ariel Property Advisors, with Victor Sozio, Mark Anderson, and Michael Tortorici playing key roles in brokering the deal. The identities of both the buyer and seller remain undisclosed.

Players

Michael A. Tortorici

Ariel Property Advisors

Broker

$908.9M

vol

48 deals

Broker

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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93