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222 Main Street, Nyack, New...

Updated Oct 28, 2024

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

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

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

$10,150,000

$286/SF

Building Size

35,427 SF

Asset Type

MultiFamily

Closing

Jan 19, 2022

About this deal

AI

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

Houlihan Lawrence Commercial

Broker

$214.1M

vol

60 deals

Broker
Thomas Gorman Jr.
Verified Badge

Thomas Gorman Jr.

Houlihan Lawrence Commercial

Broker

$240M

vol

62 deals

Broker

Nyack MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $286 per square foot on a published $10.2M for 35,427 square feet (2022).

Visit Thomas Gorman Jr. to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.56%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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