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Jason Bilanin & Jared Bilanin Acquire Rockland County Multifamily For $10.15M

Property Image
SOLD
$10,150,000

New York

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MultiFamily35,427 SF
Sold 01/19/2022
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Property Image
SOLD

Jason Bilanin & Jared Bilanin Acquire Rockland County Multifamily For $10.15M

222 Main Street, Nyack, New York 10960, United States

See Similar Deals
MultiFamily35,427 SF
Sold 01/19/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$286
Total Square Footage:35,427 SF
Transaction Type:Sale

Located at 222 Main Street in Rockland County, this multifamily property was recently sold in a closed transaction. The sale was facilitated by brokers Thomas Gorman Jr. and Michael Scrima from Redwood Realty Advisors.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $10,150,000
  • Date of Sale: 01/19/2022
  • Address: 222 Main Street, Rockland County
  • Market: Rockland County
  • Buyer: Jason Bilanin & Jared Bilanin - Real Estate Growth Advisors
  • Seller: Joseph Lagana
  • Units: 35
  • Price per Unit: $290,000
  • Total Square Footage: 35,427
  • Price per Square Foot: $286

The buyers, Jason Bilanin and Jared Bilanin from Real Estate Growth Advisors, acquired this multifamily property. The sellers were Joseph Lagana. The transaction was successfully handled by Thomas Gorman Jr. and Michael Scrima from Redwood Realty Advisors. With a total of 35 units and a price per unit of $290,000, this property spans across 35,427 square feet at a price per square foot of $286.

Players

Michael Scrima
60 deals$214.1M volume
BROKER

Thomas Gorman Jr.
Houlihan Lawrence Commercial
62 deals$240M volume(914) 205-2020
BROKER

Details

SOLD
IMAGE: Thomas Gorman Jr. & Michael Scrima DATE: 01/19/2022 ADDRESS: 222 Main Street MARKET: Rockland County ASSET TYPE: Multifamily BUYER: Jason Bilanin & Jared Bilanin - Real Estate Growth Advisors SELLER: Joseph Lagana BROKERS: Thomas Gorman Jr. & Michael Scrima - Redwood Realty Advisors (@RedwoodRealtyAdvisors) SALE PRICE: $10,150,000 UNITS: 35 ~ PPU: $290,000 SF: 35,427 ~ PPSF: $286

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$541,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,060.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,116.18
Annual Debt Service$577,394.14