Rosewood Realty Group Represents Barberry Rose Management In $12.55M Sale Of Multifamily Buildings In Fort George
SOLD
$12,550,000
New York
See Similar DealsMixed-use39,832 SF
Sold 07/07/2020
SOLD
Rosewood Realty Group Represents Barberry Rose Management In $12.55M Sale Of Multifamily Buildings In Fort George
1520 Saint Nicholas Avenue, Fort George, NY, 10033, USA
See Similar DealsMixed-use39,832 SF
Sold 07/07/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$315
Total Square Footage:39,832 SF
Transaction Type:Sale
Located in the Fort George market, the property at 1520-1526 Saint Nicholas Ave. recently changed hands in a closed sale. The asset is a multifamily property comprising two contiguous five-story walk-up apartment buildings. In total, the property offers 43 apartments and 6 retail spaces. The transaction was facilitated by brokers Aaron Jungreis and Ben Khakshoor of Rosewood Realty Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,550,000
- Square Footage: 39,832
- Price per Square Foot: $315
- Market: Fort George
- Buyer: Not disclosed
- Seller: Barberry Rose Management - Lewis Barbanel
- Brokers: Aaron Jungreis & Ben Khakshoor - Rosewood Realty Group
- Date: 07/07/2021
- Image: Aaron Jungreis & Ben Khakshoor
While the buyer's identity has not been revealed, it is notable that the property was sold by Barberry Rose Management, with Lewis Barbanel acting as the seller. This transaction demonstrates the strong investment interest in the Fort George market, as well as the expertise of Aaron Jungreis and Ben Khakshoor from Rosewood Realty Group in navigating successful deals within the multifamily sector.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$669,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,587.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,493.40
Annual Debt Service$713,920.83
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