Moshe Bloorian & Jay Haiim Acquire Rochester Multifamily For $22.5M
SOLD
$22,500,000
New York
See Similar DealsMultiFamily227,440 SF
Sold 04/01/2024
SOLD
Moshe Bloorian & Jay Haiim Acquire Rochester Multifamily For $22.5M
111 East Avenue
See Similar DealsMultiFamily227,440 SF
Sold 04/01/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$98
Total Square Footage:227,440 SF
Transaction Type:Sale
The multifamily property located at 111 East Avenue in Rochester was sold for $22,500,000. The asset comprises 255 units with an average price per unit of $88,235. The total area of the property is 227,440 square feet, resulting in a price per square foot of $99.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Seller: Daniel Elstein
- Buyer: Moshe Bloorian - Greyhill Group & Jay Haiim
Moshe Bloorian from Greyhill Group and Jay Haiim were the buyers involved in this transaction. They acquired the multifamily property at 111 East Avenue in Rochester from the seller, Daniel Elstein.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75
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