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
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