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2428 Corning Avenue, Fort W...

Langdon Park Capital Acquires 304-Unit Multifamily Property In Fort Washington, MD
SOLDMultiFamily

Langdon Park Capital Acquires 304-Unit Multifamily Property In Fort Washington, MD

2428 Corning Avenue, Fort Washington, Maryland 20744, United States

$63,200,000

Building Size

Asset Type

MultiFamily

Closing

Jun 14, 2022

AI

The multifamily property located at 2428 Corning Ave in Fort Washington, MD has been sold. The property consists of 304 units and was sold for a total price of $63,200,000, resulting in a price per unit of $207,895.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $63,200,000
  • Date: 06/15/2022
  • Address: 2428 Corning Ave, Fort Washington, MD
  • Market: Fort Washington, MD
  • Buyer: Langdon Park Capital - Malcolm Johnson
  • Units: 304
  • Price per Unit: $207,895

Langdon Park Capital, represented by Malcolm Johnson, was the buyer in this transaction.

Players

Malcolm Johnson

Langdon Park Capital

Buyer

$121.1M

vol

3 deals

Buyer

Fort Washington 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

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93