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1833 West Water Street

Michael Cohen Acquires 58-unit Multifamily In Elmira For $2.83M
SOLDMultiFamily

Michael Cohen Acquires 58-unit Multifamily In Elmira For $2.83M

1833 West Water Street

$2,830,000

Building Size

Asset Type

MultiFamily

Closing

Dec 1, 2022

AI

The multifamily property located at 1833 West Water Street in Elmira has been sold for a total price of $2,830,000. The property consists of 58 units, with an average price per unit of $48,793.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,830,000
  • Address: 1833 West Water Street, Elmira
  • Market: Elmira

The buyer of the property is Michael Cohen, while the seller is Rosko Phil. The deal was facilitated by Daniel Lanni and Robert Holland of Kislak Realty. They represented the respective parties throughout the transaction.

Players

Robert Holland

Kislak

Broker

$158.1M

vol

12 deals

Broker
Michael Cohen

Michael Cohen

Buyer

$221.4M

vol

5 deals

Buyer

Elmira 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

5.61%

Cash-on-Cash

-1.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93