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Esther Toporovsky Acquires Multifamily Property On Amsterdam Avenue In Manhattan Valley For $10M

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SOLD
$9,998,639

New York

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MultiFamily17,414 SF
Sold 10/13/2021
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Property Image
SOLD

Esther Toporovsky Acquires Multifamily Property On Amsterdam Avenue In Manhattan Valley For $10M

965 Amsterdam Avenue, New York City, New York 10025, United States

See Similar Deals
MultiFamily17,414 SF
Sold 10/13/2021
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$574
Total Square Footage:17,414 SF
Transaction Type:Sale

A multifamily property located at 965 Amsterdam Avenue in Manhattan Valley has been sold in a closed transaction. The property is zoned as R8A, C2-5, EC-2 and has a floor area ratio (FAR) of 3.46. The property is classified as tax class 2 and sits on a lot size of 5,033 square feet. The last recorded sale of the property was on February 17, 2012, for a price of $4,568,122. A permit for alteration 2 was issued on March 8, 2019, indicating some modification to the property. The lot dimensions measure 50.33 feet by 100 feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,998,639
  • Buyer: Esther Toporovsky
  • Seller: Meyer Orbach
  • Building Square Footage: 17,414
  • Price per Square Foot: $574
  • Price per Buildable Square Foot: $329

Esther Toporovsky was the buyer in this transaction, while Meyer Orbach served as the seller. The transaction was completed on October 13, 2021. The property has a total square footage of 17,414, and the sale price amounts to $9,998,639. The buyer, Esther Toporovsky, acquired the property from the seller, Meyer Orbach. The sale price per square foot is $574, while the price per buildable square foot is $329.

Players

Meyer Orbach
31 deals$3.3B volume
BROKER

Esther Toporovsky
5 deals$47.7M volume
BUYER

Details

SOLD
IMAGE: Meyer Orbach DATE: 10/13/2021 ADDRESS: 965 Amsterdam Avenue MARKET: Manhattan Valley ASSET TYPE: Multifamily ~ ZONING: R8A, C2-5, EC-2 BUYER: Esther Toporovsky SELLER: Meyer Orbach PRICE: $9,998,639 BSF: 30,299 ~ PPBSF: $329 SF: 17,414 ~ PPSF: $574 FAR: 3.46 TAX CLASS: 2 LOT SIZE: 5,033 LAST SALE PRICE: $4,568,122 (02/17/2012) PERMITS: Alteration 2 (03/08/2019) LOT DIMENSION: 50.33 ft x 100 ft

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

$533,260.73

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,523.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,398.65
Annual Debt Service$568,783.80