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Joshua Stein & Daniel Lauchheimer Acquire 82-Unit Multifamily In Westchester County For $18M

Property Image
SOLD
$18,000,000
David Algarin
Anthony Watkins
DL

New York

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Sold 07/15/2022
the dealplayerscompscontact
Property Image
SOLD

Joshua Stein & Daniel Lauchheimer Acquire 82-Unit Multifamily In Westchester County For $18M

22 Baltic Place

See Similar Deals
Sold 07/15/2022
David Algarin
Anthony Watkins
DL
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 22 Baltic Pl., situated in Westchester County. This asset comprises a total of 82 units, with a sale price of $18,000,000. The total square footage of the property is 73,430, resulting in a price per unit of $219,512 and a price per square foot of $245.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $18,000,000
  • Units: 82
  • Square Footage: 73,430
  • Price Per Unit: $219,512
  • Price Per Square Foot: $245
  • Buyer: Joshua Stein & Daniel Lauchheimer
  • Seller: Bartzick Family
  • Brokers: Anthony Watkins & David Algarin - The Oak & Avery Group

The deal featured the involvement of brokers Anthony Watkins and David Algarin representing the transaction. This partnership facilitated the meeting between the buyers and sellers, playing a crucial role in finalizing the deal.

Players

Anthony Watkins
Oak & Avery Group
Anthony Watkins
29 deals$107.3M volume(914) 292-0105
BROKER
David Algarin
Oak & Avery Group
David Algarin
27 deals$100.8M volume(914) 292-1081
BROKER
DL
Daniel Lauchheimer
2 deals$58M volume
BUYER

Details

SOLD
IMAGE: Anthony Watkins & David Algarin DATE: 07/15/2022 ADDRESS: 22 Baltic Pl. MARKET: Westchester County ASSET TYPE: Multifamily BUYER: Joshua Stein & Daniel Lauchheimer SELLER: Bartzick Family BROKERS: Anthony Watkins & David Algarin - The Oak & Avery Group (@OakAveryGroup) SALE PRICE: $18,000,000 UNITS: 82 ~ PPU: $219,512 SF: 73,430 ~ PPSF: $245

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20