Updated Oct 28, 2024
Standard Communities Acquires Multifamily Property In West Warwick, RI For $29.57M
1700 South Surf Road, Hollywood, Florida 33019, United States
$2,395,000
$528/SF
Building Size
4,529 SF
Asset Type
MultiFamily
Closing
Mar 13, 2022
About this deal
AI
The multifamily property located at 47 Tanglewood Dr in West Warwick, RI has been sold in a transaction. The property spans across 141,500 square feet and was sold for a total price of $29,570,000, resulting in a price per square foot of $209.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $29,570,000
- Square Footage: 141,500
- Price Per Square Foot: $209
- Address: 47 Tanglewood Dr, West Warwick, RI
- Market: West Warwick, RI
The buyer of the property is Standard Communities, while Sawyer Realty Holdings served as the seller. The sale transaction was facilitated by the following brokers from Cushman & Wakefield: Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, and Kevin Jones.
Players
Hollywood 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
6.62%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93