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Newmark Brokers Facilitate $21M Sale Of Saratoga Springs Multifamily Property

Property Image
SOLD
$21,000,000

New York

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MultiFamily81,840 SF
Sold 05/25/2022
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Property Image
SOLD

Newmark Brokers Facilitate $21M Sale Of Saratoga Springs Multifamily Property

2 Saddle Way, Saratoga Springs, New York 12866, United States

See Similar Deals
MultiFamily81,840 SF
Sold 05/25/2022
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$256
Total Square Footage:81,840 SF
Transaction Type:Sale

Located at 2 Saddle Way, Saratoga Springs, this multifamily property was recently sold in a closed transaction. The property spans 81,840 square feet and consists of 57 units. The sale price for this asset was $21,000,000, resulting in a price per unit of $368,421 and a price per square foot of $256.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $21,000,000
  • Address: 2 Saddle Way, Saratoga Springs
  • Units: 57
  • Price per Unit: $368,421
  • Square Footage: 81,840
  • Price per Square Foot: $256

The sale of this multifamily property was facilitated by Gene Pride, Kevin Welsh, Brian Schulz, and Jamie Thelwell from Newmark. They represented the parties involved in the transaction, ensuring a successful deal.

Players

Brian Schulz
15 deals$1B volume(201) 528-0844
BROKER

Gene Pride
Newmark
22 deals$1.6B volume
BROKER

Kevin Welsh
Newmark
21 deals$1.1B volume(201) 528-0862
BROKER

Details

SOLD
IMAGE: Gene Pride, Kevin Welsh, Brian Schulz & Jamie Thelwell DATE: 05/25/2022 ADDRESS: 2 Saddle Way, MARKET: Saratoga Springs ASSET TYPE: Multifamily BROKERS: Gene Pride, Kevin Welsh, Brian Schulz & Jamie Thelwell - Newmark SALE PRICE: $21,000,000 UNITS: 57 ~ PPU: $368,421 SF: 81,840 ~ PPSF: $256

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

$1,120,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56