Edward Traum Acquires Multifamily Property In NoMad For $32.9M
11 East 26th Street, Manhattan, New York, NY, USA
$32,900,000
$150/SF
Building Size
217,991 SF
Asset Type
Office
Closing
Apr 18, 2021
About this deal
AI
The multifamily property located at 11 East 26th Street in the NoMad neighborhood of Manhattan has been sold for a price of $32,900,000. The property is zoned as C5-2 and has a floor area ratio (FAR) of 18.87. The total square footage of the property is 218,005, with a price per square foot (PPSF) of $150. The building has a total buildable square footage (BSF) of 115,530, with a price per buildable square foot (PPBSF) of $284. The property has a tax class of 4 and sits on a lot size of 11,553. The lot dimensions are 58.5 feet by 197.5 feet. The property underwent an alteration type 2 permit on February 14, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $32,900,000
- Zoning: C5-2
- Market: NoMad, Manhattan
Edward Traum was the buyer in the transaction, while Hirshell E Levine acted as the seller. They were represented by their respective brokers.
Players
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Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93