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
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