Marcus & Millichap Sells 29 Unit Multifamily Asset On Mclean Avenue In Yonkers For $3M
SOLD
$3,000,000
New York
See Similar DealsMultiFamily20,000 SF
Sold 11/14/2024
SOLD
Marcus & Millichap Sells 29 Unit Multifamily Asset On Mclean Avenue In Yonkers For $3M
218 Mclean Avenue
See Similar DealsMultiFamily20,000 SF
Sold 11/14/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$150
Total Square Footage:20,000 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily building located at 218 Mclean Avenue in Yonkers. The sale price was $3,000,000, encompassing 29 units across a total square footage of 20,000, resulting in a price per unit of $103,448 and a price per square foot of $150.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Units: 29
- Square Footage: 20,000
- Price Per Unit: $103,448
- Price Per Square Foot: $150
- Date of Transaction: 11/14/2024
- Address: 218 Mclean Avenue
- Market: Yonkers
- Broker Representatives: Seth Glasser, Michael Fusco & Matthew Gault - Marcus & Millichap
This transaction involved Seth Glasser, Michael Fusco, and Matthew Gault representing the buyer through their agency, Marcus & Millichap. They played a crucial role in facilitating the sale within the multifamily market in Yonkers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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