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StonehengeNYC Acquires Multifamily Property On Upper East Side For $135M

Property Image
SOLD
$135,000,000
Robert (Bob) Knakal
Jonathan (Jon) Hageman
Jeffrey (Jeff) Julien
+ 2

New York

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MultiFamily155,544 SF
Sold 04/30/2021
the dealplayerscompscontact
Property Image
SOLD

StonehengeNYC Acquires Multifamily Property On Upper East Side For $135M

920 Park Avenue, Manhattan, New York, NY, USA

See Similar Deals
MultiFamily155,544 SF
Sold 04/30/2021
Robert (Bob) Knakal
Jonathan (Jon) Hageman
Jeffrey (Jeff) Julien
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$867
Total Square Footage:155,544 SF
Transaction Type:Sale

The multifamily property at 920 Park Avenue in the Upper East Side has been sold for $135,000,000. The property, consisting of 68 units with a total square footage of 155,544, was purchased by StonehengeNYC ferYardeni. The price per unit was approximately $1,985,294, and the price per square foot was $867.

Summary of transaction details

The deal was facilitated by brokers Bob Knakal, Rob Hinckley, Jeff Julien, Steven Rutman, and Jonathan Hageman LL.

Players

Jeffrey (Jeff) Julien
JLL
Jeffrey Julien
58 deals$9B volume
BROKER
Jonathan (Jon) Hageman
JLL
Jonathan Hageman
59 deals$2.5B volume(212) 812-5995
BROKER
Robert (Bob) Knakal
BK Real Estate Advisors
Robert Knakal
64 deals$3.2B volume(907) 509-9501
BROKER
Rob Hinckley
JLL
Rob Hinckley
81 deals$11.6B volume
BROKER
Steven Rutman
JLL
Steven Rutman
66 deals$8.8B volume
BROKER
SN
Stonehenge NYC
BUYER

Details

SOLD
IMAGE: Bob Knakal, Jeff Julien, Ofer Yardeni, Steven Rutman, Rob Hinckley, Jonathan Hageman DATE: 04/2021 ADDRESS: 920 Park Avenue MARKET: Upper East Side ASSET TYPE: Multifamily BUYER: @StonehengeNYC - @OferYardeni BROKERS: Bob Knakal, Rob Hinckley, Jeff Julien, Steven Rutman, Jonathan Hageman - @JLL PRICE: $135,000,000 UNITS: 68 ~ PPU: $1,985,294 SF: 155,544 ~ PPSF: $867

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$479,626.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$639,968.87
Annual Debt Service$7,679,626.49