Kempner Properties Acquires Multifamily Property In New Paltz, NY For $7.6M
SOLD
$7,600,000
New York
See Similar DealsMultiFamily29,530 SF
Sold 12/18/2020
SOLD
Kempner Properties Acquires Multifamily Property In New Paltz, NY For $7.6M
144 Main Street, New Paltz, NY, USA
See Similar DealsMultiFamily29,530 SF
Sold 12/18/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$257
Total Square Footage:29,530 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$405,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53
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