GREA Mid-Atlantic Brokers Ken Wellar & Douglas Sitt Facilitate $10.9M Sale Of Student Housing In Troy, NY
SOLD
$10,926,000
New York
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SOLD
GREA Mid-Atlantic Brokers Ken Wellar & Douglas Sitt Facilitate $10.9M Sale Of Student Housing In Troy, NY
1605 Highland Avenue, Troy, New York 12180, United States
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Summary
NEW YORK
Transaction Type:Sale
A student housing property located at 1605 Highland Avenue in Troy, NY has been sold for a total price of $10,926,000. The property consists of 285 beds, with a price per bed (PPB) of $38,337. The transaction was completed on December 19, 2022.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $10,926,000
- Address: 1605 Highland Avenue, Troy, NY
- Beds: 285
- PPB: $38,337
The sale of the student housing property was facilitated by brokers Ken Wellar and Douglas Sitt from GREA Mid-Atlantic.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$582,720.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,817.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,794.81
Annual Debt Service$621,537.77
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