Kempner Properties Acquires Multifamily Property In New Paltz, NY For $7.6M

A multifamily property located at 144 Main Street in New Paltz, NY has been sold for a price of $7,600,000. The property consists of 36 units with an average price per unit of $211,000. It spans a total area of 29,530 square feet, resulting in a price per square foot of $257. The transaction took place on December 18, 2020, and the property achieved a cap rate of 6%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,600,000
• Units: 36
• Price per Unit: $211,000
• Total Square Feet: 29,530
• Price per Square Foot: $257
• Cap Rate: 6%
• Address: 144 Main Street
• Market: New Paltz, NY

The property was sold by Matt LaRussa to the buyers, Peter, Robert, and Douglas Kempner, who represent Kempner Properties. For more information, visit @KempnerProperties on Instagram.