Updated Oct 28, 2024
Indev Real Estate Acquires Ridgewood Multifamily On Himrod St For $1.45M
1709 Himrod Street, Ridgewood, NY 11385
$1,450,000
$280/SF
Building Size
5,175 SF
Asset Type
MultiFamily
Closing
Jan 14, 2022
About this deal
AI
Indev Real Estate has completed the acquisition of a multifamily property located at 1709 Himrod St in Ridgewood. The property, with a total square footage of 5,175, is zoned as R6B. The sale, facilitated by Daniel Barcelowsky of EVRG, involved a transaction amount of $1,450,000, translating to a price per square foot of $280. The property consists of 6 units, with a price per unit of approximately $241,666.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,450,000
- Address: 1709 Himrod St
- Market: Ridgewood
- Zoning: R6B
Daniel Barcelowsky of EVRG represented the seller, Tadeusz Regula, in this transaction. The deal signifies another successful transaction in the real estate market, highlighting the ongoing activity and investment in the Ridgewood area.
New York 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
10.94%
Cash-on-Cash
-3.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93