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111 Sylvan Avenue, Miller P...

Realty Three Acquires Multifamily Property In Long Island For $7.5M
SOLDMultiFamily

Realty Three Acquires Multifamily Property In Long Island For $7.5M

111 Sylvan Avenue, Miller Place, New York 11764, United States

$7,500,000

$241,935/SF

Building Size

31 SF

Asset Type

MultiFamily

Closing

Nov 28, 2022

AI

Realty Three, represented by Charlie Lefkowitz, has acquired a multifamily property located at 111 Sylvan Avenue in Long Island. The property, sold by Maxwell Garden, was transacted for a price of $7,500,000. It spans a total area of 31,000 square feet, resulting in a price per square foot of $242.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,500,000
  • Address: 111 Sylvan Avenue
  • Market: Long Island

Charlie Lefkowitz of Realty Three acted as the buying representative in this transaction, while Maxwell Garden represented the seller. This successful deal highlights the expertise and professionalism of the individuals and companies involved.

Players

Charlie Lefkowitz

Realty Three

Buyer

$129.1M

vol

8 deals

Buyer

Maxwell Garden

Seller

$82.5M

vol

2 deals

Seller

Miller Place MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93