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310-322 E 3rd Street

Updated Nov 28, 2024

Black Bear Asset Management Acquires MultiFamily Property In Bethlehem, PA For $13.9M
SOLD

Black Bear Asset Management Acquires MultiFamily Property In Bethlehem, PA For $13.9M

310-322 E 3rd Street

$13,900,000

Units

13,900,000

Asset Type

Closing

Jan 9, 2023

About this deal

AI

A multi-family property located at 310-322 E 3rd Street in Bethlehem, PA has been sold for a transaction amount of $13,900,000. The property consists of 52 units with an average price per unit of $267,308. It spans a total area of 42,123 square feet, resulting in a price per square foot of $330.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $13,900,000
  • Units: 52
  • Price per Unit: $267,308
  • Square Footage: 42,123
  • Price per Square Foot: $330

The buyer of the property is Black Bear Asset Management, while the seller is Greystone Capital Inc. The deal was facilitated by brokers Emil DePasquale and George Pektor from Black Bear Capital Partners.

Players

Emil DePasquale

Black Bear Capital Partners

Broker

$2.2B

vol

94 deals

Broker
Black Bear Capital Partners
Black Bear Capital PartnersBuyer
Greystone
GreystoneSeller

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.14%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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