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238 South 3rd Avenue, Mount...

Jordan Cohen Acquires Multifamily Property In Westchester For $1.25M
SOLDMultiFamily

Jordan Cohen Acquires Multifamily Property In Westchester For $1.25M

238 South 3rd Avenue, Mount Vernon, New York 10550, United States

$1,250,000

$194/SF

Building Size

6,418 SF

Asset Type

MultiFamily

Closing

Sep 29, 2022

AI

A multifamily property located at 238 S. 3rd Ave. in Westchester has been sold for $1,250,000. The property consists of 8 units with a total square footage of 6,418, resulting in a price per square foot of $194. The buyer, Jordan Cohen, acquired the property from the seller, Moshe Goldberg.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,250,000
  • Units: 8
  • Price per Unit: $156,250
  • Square Footage: 6,418
  • Price per Square Foot: $194

The sale was facilitated by Michael Scrima and Thomas Gorman Jr. from Redwood Realty Advisors, who represented both the buyer and the seller in the transaction.

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

Jordan Cohen

Buyer

$13.7M

vol

8 deals

Buyer

City of Mount Vernon 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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93