Montar Group & The Ardent Companies Partnership Sells Self Storage In Mount Vernon For $52M
SOLD
$52,000,000
New York
See Similar Deals133,171 SF
Sold 06/02/2022
SOLD
Montar Group & The Ardent Companies Partnership Sells Self Storage In Mount Vernon For $52M
275 Washington Street, Mount Vernon, New York 10553, United States
See Similar Deals133,171 SF
Sold 06/02/2022
Summary
NEW YORK
Price Per Square Foot:$390
Total Square Footage:133,171 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35
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