facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

211 Hawthorne Ave, Central ...

Spruce Capital Partners Sells Property At 211 Hawthorne Ave Central Islip With Gene Pride And Jeffrey Dunne As Sellers' Representatives
SOLDMultiFamily

Spruce Capital Partners Sells Property At 211 Hawthorne Ave Central Islip With Gene Pride And Jeffrey Dunne As Sellers' Representatives

211 Hawthorne Ave, Central Islip, NY...

Units

434

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The property asset involved in the transaction is located at 211 Hawthorne Ave, Central Islip, NY, within the Central Islip market. It is part of a multifamily community known as Hawthorne Court, which comprises 434 units. The property was constructed in 1968 and offers a variety of unit types, including studio, one-, two-, and three-bedroom layouts. The amenities available to residents include onsite laundry facilities, a gym, and a pool.

Summary of transaction details:

The deal was facilitated by CBRE, with Jeffrey Dunne, Gene Pride, and Travis Langer representing the seller, who is a joint venture between Post Road Group and Spruce Capital Partners. The team also successfully procured the buyer for the transaction.

Players

Gene Pride

Newmark

Broker

$1.6B

vol

22 deals

Broker
SP
Spruce Capital PartnersSeller

Central Islip MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93