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7349 57th Street

Mariano Mollo And Anthony Citriglia Represent Seller In $1.72M Summit Multifamily Sale
SOLDMultiFamily

Mariano Mollo And Anthony Citriglia Represent Seller In $1.72M Summit Multifamily Sale

7349 57th Street

$1,715,000

$155/SF

Building Size

11,050 SF

Asset Type

MultiFamily

Closing

Aug 21, 2025

AI

The property asset involved in this transaction is a multifamily building located at 7349 57th Street in the Summit market. The sale price was $1,717,500, covering 17 units with a price per unit of $101,029. The total square footage of the asset is 11,050, which translates to a price per square foot of $155.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,717,500
  • Units: 17
  • Price Per Unit: $101,029
  • Total Square Feet: 11,050
  • Price Per Square Foot: $155
  • Seller's Representative: Mariano Mollo - Avenue 1 Realty Group; Anthony Citriglia - Essex Realty Group

The key individuals involved in this transaction include seller's representatives Mariano Mollo from Avenue 1 Realty Group and Anthony Citriglia from Essex Realty Group, who facilitated the sale of the multifamily asset. Their contributions were instrumental in the completion of this transaction.

Players

Anthony Citriglia

Essex Realty Group

Broker

$98.1M

vol

32 deals

Broker
Essex Realty Group
Essex Realty GroupBrokerage

Summit Argo 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

9.25%

Cash-on-Cash

-2.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93