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15 West Funston Avenue

Private Apartment Owner Acquires 29-Unit Multifamily Property In Spring Valley For $3.4M
SOLDMultiFamily

Private Apartment Owner Acquires 29-Unit Multifamily Property In Spring Valley For $3.4M

15 West Funston Avenue

$3,400,000

Building Size

Asset Type

MultiFamily

Closing

Nov 8, 2023

AI

A private apartment owner has acquired a 29-unit multifamily property located at 15 West Funston Avenue in Spring Valley, New York. The property was purchased for a total of $3.4 million in an off-market transaction facilitated by The Kislak Co.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $3,400,000
  • Units: 29
  • Price Per Unit: $117,241
  • Address: 15 West Funston Avenue
  • Market: Spring Valley

The buyer was represented by Gregory Koenig from Kislak. The financing for the transaction was provided by TD Bank.

Players

Gregory Koenig

Kislak

Broker

$31M

vol

3 deals

Broker
TD Bank
TD BankLender

Spring Valley 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

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93