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Troy Lofts LLC Acquires 21-unit River Street Lofts In Troy For $4M

Property Image
SOLD
$4,000,000

New York

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MultiFamily8,200 SF
Sold 01/09/2024
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Property Image
SOLD

Troy Lofts LLC Acquires 21-unit River Street Lofts In Troy For $4M

172 River Street & 176 River Street

See Similar Deals
MultiFamily8,200 SF
Sold 01/09/2024
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$487
Total Square Footage:8,200 SF
Transaction Type:Sale

The River Street Lofts, a 21-unit apartment complex located at 172-176 River Street in Troy, was sold for $4 million to Troy Lofts LLC of Pelham in Westchester County. The sale price equates to $976 per square foot for the 4,100 square foot property.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $4,000,000
  • Market: Troy
  • Buyer: Troy Lofts LLC
  • Seller: Tom Rossi & John Blackburn
  • Lender: Saratoga National Bank& Trust
  • SF: 4,100

Troy Lofts LLC of Pelham in Westchester County successfully acquired the River Street Lofts. The financing for the transaction was provided by Saratoga National Bank & Trust. Tom Rossi & John Blackburn acted as the sellers in this property deal.

Players

Saratoga National Bank
Saratoga National Bank
LENDER

Details

SOLD
IMAGE: 01/09/2024 ADDRESS: 172-176 River Street MARKET: Troy ASSET TYPE: MultiFamily BUYER: Troy Lofts LLC SELLER: Tom Rossi & John Blackburn LENDER: Saratoga National Bank & Trust & Saratoga National Bank & Trust SALE PRICE: $4,000,000 SF: 4,100 ~ PPSF: $976 NOTE: The River Street Lofts, a 21-unit apartment complex in downtown Troy, sold for $4 million to Troy Lofts LLC of Pelham in Westchester County.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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