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6 Avenue B

Jeremey Tahari & Jake Croman Acquire East Village Multifamily For $7.8M With Broker Kevin Esh
SOLDRetail

Jeremey Tahari & Jake Croman Acquire East Village Multifamily For $7.8M With Broker Kevin Esh

6 Avenue B

$7,800,000

$5,200/SF

Building Size

1,500 SF

Asset Type

Retail

Closing

Sep 29, 2023

AI

The multifamily property located at 6 Avenue B in the East Village of Manhattan has been sold. The transaction took place between the buyer, Jeremey Tahari and Jake Croman of Tahari Capital, and the seller, Parag Sawhney of Penn South Capital, with brokerage services provided by Kevin Esh of Esh Property Group. The sale price for the property was $7,800,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,800,000
  • Address: 6 Avenue B, East Village, Manhattan
  • Market: East Village, Manhattan
  • Buyer: Jeremey Tahari and Jake Croman - Tahari Capital
  • Seller: Parag Sawhney - Penn South Capital
  • Broker: Kevin Esh - Esh Property Group
  • Units: 10
  • Price per Unit (PPU): $780,000
  • Square Footage (SF): 7,995
  • Price per Square Foot (PPSF): $976

This transaction marks the successful collaboration between Jeremey Tahari, Jake Croman, Parag Sawhney, and Kevin Esh in the sale of the multifamily property. The deal involved 10 units, with each unit having a price of approximately $780,000. The total square footage of the property is 7,995, resulting in a price per square foot of $976.

Players

Kevin Esh

Broker

$78.3M

vol

7 deals

Broker
Jeremey Tahari

Jeremey Tahari

Tahari Capital

Buyer

$59.5M

vol

16 deals

Buyer
Parag Sawhney

Parag Sawhney

Penn South Capital

Seller

$175.5M

vol

23 deals

Seller

New York City Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.03%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93