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21 Willett Ave, Port Cheste...

Joseph Garibaldi Of Walker & Dunlop Represents Sale Of Port Chester Property For $32.2M
SOLDMultiFamily

Joseph Garibaldi Of Walker & Dunlop Represents Sale Of Port Chester Property For $32.2M

21 Willett Ave, Port Chester, NY, 10573

$32,200,000

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The Mariner, a 100-unit apartment community located at 21 Willett Ave, Port Chester, NY, 10573, has been sold for $32,200,000.00. The property, built in 2012, features units with an average size exceeding 1,000 square feet, hardwood floors, and quartz countertops. It offers amenities such as a fitness center, social lounge, storage units, and concierge services. The market for this transaction is Port Chester.

Summary of transaction details:

  • Property Type: Apartment Community
  • Transaction Amount: $32,200,000.00
  • Address: 21 Willett Ave, Port Chester, NY, 10573
  • Market: Port Chester
  • Seller's Rep: Joseph Garibaldi (Walker & Dunlop)
  • Buyer: Unknown
  • Seller: Institutional investors advised by JP Morgan Asset Management

The sale was facilitated by Walker & Dunlop, with Thomas Walsh and Joseph Garibaldi representing the sellers in this transaction. The property is strategically situated near the New York-Connecticut border.

Players

Thomas Walsh

Colliers

Broker

$197.1M

vol

6 deals

Broker

Port Chester 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

0.49%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93