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:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 211 Hawthorne Ave, Central Islip, NY
- Seller: Spruce Capital Partners
- Seller's Representatives: Gene Pride-CBRE, Jeffrey Dunne-CBRE
- Buyer: Unknown
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
Central Islip 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93