Updated Oct 29, 2024
Renaissance Management Acquires Multifamily Portfolio In Patchogue For $232.5M
200 La Bonne Vie Dr, East Patchogue, NY 11772, USA
$232,500,000
Units
915
Asset Type
MultiFamily
Closing
Feb 27, 2020
About this deal
AI
The multi-family portfolio located at 200 La Bonne Vie Drive in Patchogue, Long Island has been sold in a closed transaction. The portfolio consists of 149 buildings with a total of 915 units. The transaction price for the portfolio was $232,500,000, which equates to an average price per unit of $254,098.
Summary of transaction details
- Property Type: Multifamily Portfolio
- Transaction Amount: $232,500,000
- Buildings: 149
- Units: 915
- Price Per Unit: $254,098
The buyer of the portfolio is Renaissance Management, while the seller is La Bonne Vie Organization. The transaction was facilitated by brokers Jeffrey Dunne, Jeremy Neuer, Gene Pride, Steven Bardsley, and David Gavin & Eric Apfel.
On the Map
$232,500,000
MultiFamily
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Players
East Patchogue 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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93