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Greyhill Group Acquires Multifamily Property In Ballston Spa For $3.55M

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SOLD
$3,550,000

New York

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MultiFamily22,500 SF
Sold 10/01/2021
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Property Image
SOLD

Greyhill Group Acquires Multifamily Property In Ballston Spa For $3.55M

11 Ashdown Road, Ballston Lake, NY, USA

See Similar Deals
MultiFamily22,500 SF
Sold 10/01/2021
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$157
Total Square Footage:22,500 SF
Transaction Type:Sale

A multifamily property located at 11 Ashdown Road in Ballston Spa has been sold on 10/01/2021. The property, consisting of 30 units with a total square footage of 22,500, was sold for a price of $3,550,000. The sale price per unit was $118,333, and the price per square foot was $157. Moshe Bloorian, representing Greyhill Group, was the buyer, while Bill Eichengrun was the seller. The transaction was facilitated by Chip Collins from Marcus & Millichap.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,550,000
  • Units: 30
  • Price Per Unit: $118,333
  • Square Footage: 22,500
  • Price Per Square Foot: $157
  • Buyer: Greyhill Group - Moshe Bloorian
  • Seller: Bill Eichengrun
  • Broker: Chip Collins - Marcus & Millichap

Moshe Bloorian, representing Greyhill Group, made the purchase for the multifamily property located at 11 Ashdown Road in Ballston Spa. The seller in this transaction was Bill Eichengrun. Chip Collins, from Marcus & Millichap, acted as the broker facilitating the deal. The transaction occurred for a sale price of $3,550,000, with the property consisting of 30 units and a total square footage of 22,500. This successful transaction showcases the expertise and collaboration of all parties involved in the deal.

Players

Chip Collins
3 deals$7.6M volume
BROKER

Moshe Bloorian
GreyHill Group
12 deals$94.4M volume
BUYER

Moshe Bloorian
12 deals$94.4M volume
BUYER

Details

SOLD
IMAGE: Moshe Bloorian DATE: 10/01/2021 ADDRESS: 11 Ashdown Road MARKET: Ballston Spa ASSET TYPE: Multifamily BUYER: Greyhill Group (@GreyhillGroup) - Moshe Bloorian (@MoBloorian) SELLER: Bill Eichengrun BROKER: Chip Collins - Marcus & Millichap SALE PRICE: $3,550,000 UNITS: 30 ~ PPU: $118,333 SF: 22,500 ~ PPSF: $157

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$189,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,612.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,828.81
Annual Debt Service$201,945.73