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East 130 Street, New York, ...

Joshua Lee Acquires Property On East 130 Street In New York For $3.2 Million
SOLDMultiFamily

Joshua Lee Acquires Property On East 130 Street In New York For $3.2 Million

East 130 Street, New York, NY, 10037

$3,200,000

$510/SF

Building Size

6,268 SF

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The property involved in this transaction is a six-story multifamily building located at East 130 Street, New York, NY, within the New York market. The building was sold for $3,200,000.00 and spans a total of 6,268 square feet, comprising five units equipped with Bosch appliances, walnut cabinetry in the kitchens, and marble tiling with Grohe and Toto finishes in the bathrooms.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,200,000.00
  • Address: 57 E. 130th St., New York, NY, 10037
  • Seller's Representatives: Matthew "Matt" Gillis - Ariel Property Advisors, Daniel Mahfar - Ariel Property Advisors
  • Buyer: Joshua Lee

Matthew L. Gillis, Michael A. Tortorici, Victor Sozio, Marko Agbaba, and Daniel Mahfar of Ariel Property Advisors were involved in representing the seller, Yoori Oh of Verse Development LLC, during this transaction, showcasing a collaborative effort among the broker representatives in the deal.

Players

Daniel Mahfar

Ariel Property Advisors

Broker

$769.5M

vol

45 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

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93