Updated Oct 28, 2024
Capstone Properties Acquires Multifamily Property In Long Island For $138.3M
211 Hawthorne Avenue, New York City, New York 11001, United States
$138,250,000
$430/SF
Building Size
321,205 SF
Asset Type
MultiFamily
Closing
Jun 21, 2022
About this deal
AI
Capstone Properties has acquired a multifamily property located at 211 Hawthorne Ave. in Long Island. The property, consisting of 434 units, was sold by Abacus Capital Group for a total price of $138,250,000. The purchase price equates to approximately $318,548 per unit and the property spans 321,205 square feet with a price per square foot of $430.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $138,250,000
- Units: 434
- Price per Unit: $318,548
- Total Square Footage: 321,205
- Price per Square Foot: $430
- Market: Long Island
The transaction was facilitated by JLL, with brokers Steve Simonelli, Jose Cruz, Michael Oliver, Kevin O'Hearn, Andrew Scandalios, and Josh Stein representing both the buyer, Capstone Properties, and the seller, Abacus Capital Group.
Players
New York 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93