Brendan Collin Purchases 17 Coligni Avenue Multifamily Property From Richard Rinaldi For $3.16M
17 Coligni Avenue
$3,160,000
$270/SF
Building Size
11,700 SF
Asset Type
MultiFamily
Closing
Dec 27, 2024
AI
The property involved in this transaction is a MultiFamily asset located at 17 Coligni Avenue in the New Rochelle market. It was sold for a transaction amount of $3,160,000. The asset comprises 18 units with a price per unit of $175,555. The total square footage of the property is 11,700, resulting in a price per square foot of $270.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,160,000
- Units: 18
- Price Per Unit: $175,555
- Square Footage: 11,700
- Price Per Square Foot: $270
- Buyer: Brendan Collin
- Seller: Richard Rinaldi
- Brokers: Michael Scrima & Thomas Gorman Jr. - Redwood Realty Advisors
The transaction was facilitated by the brokerage team of Michael Scrima and Thomas Gorman Jr., who are representatives from Redwood Realty Advisors, handling the deal for both the buyer and seller aspects. Their expertise contributed to the completion of this property sale.
Players
New Rochelle 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
5.02%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93