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231 East 111th Street

Updated May 12, 2025

Monarch Realty Holdings Sells East Harlem Multifamily Property For $3.4 Million With Newmark Brokers
SOLDMultiFamily

Monarch Realty Holdings Sells East Harlem Multifamily Property For $3.4 Million With Newmark Brokers

231 East 111th Street

$3,400,000

$348/SF

Building Size

9,751 SF

Asset Type

MultiFamily

Closing

Feb 24, 2025

About this deal

AI

The property asset involved in the transaction is a multifamily building located at 231 East 111th Street in East Harlem. The sale price of the asset was $3,400,000, which encompasses 12 units. The total square footage of the property is 9,751, resulting in a price per unit of $283,333 and a price per square foot of $348.

Summary of transaction details:

This transaction involved key individuals from Newmark representing the sellers, highlighting collaboration among brokers Eric Roth, Maurice Suede, Tyler Signora, Harry James, Mike Kavanagh, and Christine Felling in facilitating the deal for Monarch Realty Holdings under the leadership of Kevin Shahery.

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$3,400,000

$348/SF

MultiFamily

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Players

Maurice Suede

Newmark

Broker

$1B

vol

63 deals

Broker

Kevin Shahery

Monarch Realty Holdings

Seller

$34.3M

vol

6 deals

Seller
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $348 per square foot on a published $3.4M for 9,751 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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