Montar Group & The Ardent Companies Partnership Sells Self Storage In Mount Vernon For $52M
275 Washington Street, Mount Vernon, New York 10553, United States
$52,000,000
$390/SF
Building Size
133,171 SF
Asset Type
—
Closing
Jun 1, 2022
About this deal
AI
The self storage property located at 275 Washington St. in Mount Vernon has been sold for a price of $52,000,000. The property spans a total area of 133,171 square feet, resulting in a price per square foot of $390. The sale was facilitated by Guthrie Garvin, Steve Mellon, and Jack Norton from JLL acting as representatives of the seller, Montar Group and The Ardent Companies Partnership.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $52,000,000
- Square Footage: 133,171
- Price per Square Foot: $390
- Address: 275 Washington St.
- Market: Mount Vernon
The sale of the self storage property at 275 Washington St. was finalized with the assistance of Guthrie Garvin, Steve Mellon, and Jack Norton from JLL. They played a pivotal role in representing the seller, Montar Group and The Ardent Companies Partnership, throughout the transaction.
On the Map
$52,000,000
$390/SF
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City of Mount Vernon CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93