Realty Three Acquires Multifamily Property In Long Island For $7.5M
SOLD
New York
See Similar DealsMultiFamily31,000 SF
Sold 11/28/2022
SOLD
Realty Three Acquires Multifamily Property In Long Island For $7.5M
111 Sylvan Ave, Miller Place, NY 11764, USA
See Similar DealsMultiFamily31,000 SF
Sold 11/28/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,419
Total Square Footage:31,000 SF
Transaction Type:Sale
The multifamily property located at 111 Sylvan Avenue in Long Island has been sold for a total price of $7,500,000. The property spans approximately 31,000 square feet, resulting in a price per square foot of $242. The transaction took place on 11/28/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,500,000
The buyer of the property is Realty Three, represented by Charlie Lefkowitz. The seller of the property is Maxwell Garden. Charlie Lefkowitz from Realty Three served as the broker representative for the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16
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