Updated Oct 29, 2024
Fairfield Properties Acquires 260-Unit Multifamily In Suffolk County For $104.9M
75 East Hoffman Avenue
$104,930,000
Units
260
Asset Type
MultiFamily
Closing
Apr 20, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 75 E. Hoffman Ave. in Suffolk County. The property consists of 260 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $104,930,000
- Date: 04/20/2022
- Market: Suffolk County
- Lender: Freddie Mac Multifamily
- Landlord: Fairfield Properties
- Brokers: Thomas E. Didio Jr., Gerard Quinn & Salvatore Buzzerio - JLL
The loan for this acquisition was obtained from Freddie Mac Multifamily. Fairfield Properties serves as the landlord for the property. The brokers involved in the deal are Thomas E. Didio Jr., Gerard Quinn, and Salvatore Buzzerio from JLL. The loan amount is $104,930,000, and it is a 15.5-year, fixed-rate loan.
Players
Lindenhurst MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93