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Fukuoka Rd Co Ltd Acquires Multifamily Property At 161-163 East 89th Street For $22.8M

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SOLD
$22,800,000

New York

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MultiFamily19,700 SF
Sold 11/20/2024
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SOLD

Fukuoka Rd Co Ltd Acquires Multifamily Property At 161-163 East 89th Street For $22.8M

161-163 East 89th Street

See Similar Deals
MultiFamily19,700 SF
Sold 11/20/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,157
Total Square Footage:19,700 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 161-163 East 89th Street in the Upper East Side market. The property was sold for a total of $22,800,000, encompassing a square footage of 19,700 square feet, resulting in a price per square foot of $1,157.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $22,800,000
  • Address: 161-163 East 89th Street
  • Market: Upper East Side
  • Square Footage: 19,700
  • Price Per Square Foot: $1,157
  • Buyer: Fukuoka Rd Co Ltd
  • Seller: Alex Rabin & David Gomez - PEAK Capital
  • Broker: John Florek - Fairview Property Group

Key individuals in the transaction include Alex Rabin and David Gomez, representing PEAK Capital as the sellers. The buyer, Fukuoka Rd Co Ltd, acquired the multifamily asset with the assistance of broker John Florek from Fairview Property Group, facilitating the successful transaction.

Players

John Florek
13 deals$264.7M volume
BROKER

Details

SOLD
IMAGE: John Florek, Alex Rabin & David Gomez DATE: 11/20/2024 ADDRESS: 161-163 East 89th Street MARKET: Upper East Side ASSET TYPE: Multifamily BUYER: Fukuoka Rd Co Ltd SELLER: Alex Rabin (@AlexRabin) & David Gomez (@DavidGomezNYC) - PEAK Capital (@PeakCapitalRE) BROKER: John Florek - Fairview Property Group (@FairviewPG) SALE PRICE: $22,800,000 SF: 19,700 ~ PPSF: $1,157

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

$1,216,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$81,003.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$108,083.63
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