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Steve Van Tongeren Sells Multifamily Asset At 1870 Baldwin Road In Yorktown Heights For $15.75M

Property Image
SOLD
$15,750,000
Michael (Mike) Fusco
Matthew Gault
+ 1

New York

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MultiFamily70,000 SF
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Property Image
SOLD

Steve Van Tongeren Sells Multifamily Asset At 1870 Baldwin Road In Yorktown Heights For $15.75M

1870 Baldwin Road

See Similar Deals
MultiFamily70,000 SF
Sold
Michael (Mike) Fusco
Matthew Gault
+ 1
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$225
Total Square Footage:70,000 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily unit located at 1870 Baldwin Road in Yorktown Heights. The asset was sold for $15,750,000, comprising 77 units with an average price per unit of $204,545. The total square footage of the building is 70,000, resulting in a price per square foot of $225.

Summary of transaction details:

The deal features four brokers representing the transaction, all from Marcus & Millichap, who played a significant role in facilitating the sale. The transaction took place on June 25, 2025, marking a noteworthy event in the Yorktown Heights market.

Players

Matthew Gault
4 deals$25.9M volume(914) 220-9745
BROKER

Michael (Mike) Fusco
Marcus & Millichap
87 deals$572.7M volume(973) 865-6303
BROKER

Seth Glasser
Marcus & Millichap
124 deals$1.1B volume
BROKER

Michael Turkiewicz
Marcus & Millichap
1 deal$15.8M volume(312) 327-5492
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Matthew Gault, Seth Glasser, Michael Fusco & Michael Turkiewicz DATE: 6/25/2025 ADDRESS: 1870 Baldwin Road MARKET: Yorktown Heights ASSET TYPE: Multifamily SELLER: Steve Van Tongeren BROKERS: Matthew Gault, Seth Glasser (@SethGlasser1), Michael Fusco (@Mike_Fusco_NYM) & Michael Turkiewicz - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $15,750,000 UNITS: 77 ~ PPU: $204,545 SF: 70,000 ~ PPSF: $225

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$840,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,956.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,663.04
Annual Debt Service$895,956.42