Onyx Partners Acquires 336-Unit Multifamily Property In Metairie For $55.8M
3301 West Esplanade Avenue North, Metairie, Louisiana 70002, United States
$55,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 18, 2022
AI
On July 19, 2022, a closed property transaction took place at 3301 West Esplanade Avenue North in Metairie. The property is a 7.34-acre multifamily asset comprising a total of 336 units. The transaction involved the acquisition of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $55,800,000
- Address: 3301 West Esplanade Avenue North
- Market: Metairie
- Asset Size: 7.34 acres
- Number of Units: 336
The landlord in this transaction was Onyx Partners. The brokers involved in the deal were Mike Kemether, Christian Schedler, Larry Schedler, and Cheryl Short from Cushman & Wakefield, as well as Judah Rosenberg from greystone''>greystone'>Greystone.
These key individuals and companies played a crucial role in facilitating the acquisition of the multifamily property at 3301 West Esplanade Avenue North in Metairie.
Players
Metairie MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93