Properties Sold

318-320 East 34th Street

East 23rd
Property 318-320 East 34th Street, located in the Murray Hill/Kips Bay Section of Manhattan.
Description 2 six story walkup’s with 50 apartments.
Date Purchased August 1997
Purchase Amount $3,550,000
Condition at time of Purchase Property was 100% leased and well maintained.
Repositioning Increased existing rent roll from $480,000 to over $800,000 at the time of sale (an increase of 67%). Acquisition was structured as a net lease with an option to purchase the property at the end of the 10-year lease term. One of the principals comprising the Managing Member purchased the Investors membership interests based upon a net sales price of $8,200,000.
Date Sold September 2005
Sale Price $8,200,000
Annualized Rate of Return to Investors In excess of 65% over a holding period in excess of 8 years.

Contact Info

Rolling Cash Equity Group
1430 Broadway - 14th floor
New York, N.Y. 10018
Tel: 646-519-8490
Fax: 646-519-8494