New England Investment Partners Acquires Multifamily Asset From Stoneweg For $22M In Georgia
225 Nancy Lane
$22,000,000
$149/SF
Building Size
147,148 SF
Asset Type
MultiFamily
Closing
Sep 10, 2024
AI
The asset involved in this transaction is a multifamily property located at 225 Nancy Lane in Georgia. The sale price for this property was $22,000,000, and it encompasses a total area of 147,148 square feet, which translates to a price per square foot of $149.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,000,000
- Address: 225 Nancy Lane
- Market: Georgia
- Square Footage: 147,148
- Price Per Square Foot: $149
- Buyer: New England Investment Partners
- Seller: Stoneweg
- Broker Representatives: Jonathan Brody, Michael Schattner & Josh Dachs - Base Realty Group
The roles in this transaction included New England Investment Partners as the buyer and Stoneweg as the seller. The deal was facilitated by the brokerage team of Jonathan Brody, Michael Schattner, and Josh Dachs, representing Base Realty Group, highlighting the involvement of experienced professionals in the multifamily real estate sector.
Players
Cumming 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93