Updated Dec 21, 2023
Joseph Heimann Acquires Multifamily Property In Auberndale For $6.95M
191-10 Crocheron Avenue, Auburndale, NY, USA
$6,950,000
$243/SF
Building Size
28,606 SF
Asset Type
MultiFamily
Closing
Sep 2, 2021
About this deal
AI
The multifamily property located at 191-10 Crocheron Avenue in Auberndale has been sold for a total price of $6,950,000. The property has a total building square footage (BSF) of 49,511, resulting in a price per BSF (PPBSF) of $140. The property spans 28,606 square feet (SF), with a price per square foot (PPSF) of $242. It consists of 36 units, with a price per unit (PPU) of $193,055.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,950,000
- Address: 191-10 Crocheron Avenue, Auberndale
- Market: Auberndale
- Zoning: R5B
The buyer of the property is Joseph Heimann, while the seller is Stephen Cherpelis. The property has a floor area ratio (FAR) of 0.78 and falls under tax class 2. The lot size measures 36,675 square feet, with dimensions of 309 feet by 150 feet.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.28%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93