Madison Realty Capital Sells Residential Building In Staten Island For $20M To Investor Benjamin Rusi

An investor named Benjamin Rusi has purchased a residential building located at 224 Richmond Terrace in Staten Island, New York. The property, measuring approximately 58,792 square feet, consists of 40 residential units and 3 commercial spaces. The transaction took place on January 25, 2018, with Madison Realty Capital, represented by Josh Zegen, as the seller.

Summary of transation details

• Property Type: Residential Building
• Transaction Amount: $20,000,000
• Address: 224 Richmond Terrace, Staten Island, New York
• Market: Staten Island
• Size: 58,792 sqft
• Units: 40 Residential - 3 Commercial

The financing for the transaction was arranged by Jon Cruz, a Senior Lending Advisor, and Russell Nova, the SVP of The Cornerstone Group of NY. The loan was provided by a privately held fund in the amount of $12,000,000. Cassandra Properties, represented by Brian McGowan, Robert Nixon, and John Pitera, facilitated the deal as the broker.