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600 76th Avenue North, St. ...

Alex Corpolongo Acquires Multifamily Property In Saint Petersburg For $12,034,000
SOLDMultiFamily

Alex Corpolongo Acquires Multifamily Property In Saint Petersburg For $12,034,000

600 76th Avenue North, St. Petersburg, Florida 33702, United States

$12,034,000

$161/SF

Building Size

74,413 SF

Asset Type

MultiFamily

Closing

Sep 18, 2022

AI

The multifamily property located at 600 76th Ave N in Saint Petersburg has been sold. The sale was facilitated by Tyler Carbonelli from Colliers, as the broker representing the buyer and seller.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $12,034,000
  • Date: 09/19/2022
  • Address: 600 76th Ave N
  • Market: Saint Petersburg

The buyer of the property is Alex Corpolongo, while the seller is the EJ Bickley Trust. The transaction involved 88 units, with a price per unit of $136,750. The total square footage of the property is 74,413, resulting in a price per square foot of $162.

Note: Image of the property can be seen on Tyler Carbonelli's Instagram page (https://www.instagram.com/p/CjiU4seLWlK/).

Players

Tyler Carbonelli

Colliers

Broker

$38.1M

vol

4 deals

Broker

Saint Petersburg 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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93