Updated Dec 4, 2024
Bernard Lindgren Acquires Multifamily Property In Croton-on-Hudson For $31M
26 Scenic Drive
$31,000,000
$217/SF
Building Size
142,560 SF
Asset Type
MultiFamily
Closing
May 17, 2024
About this deal
AI
The multifamily property located at 26 Scenic Drive in Croton-On-Hudson was successfully sold in a recent transaction. The asset consists of 144 units with a total square footage of 142,560. The property was acquired by Bernard Lindgren from the seller, Richard Bartzick, for the total sale price of $31,000,000, equating to a price per unit of $215,278 and a price per square foot of $217.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Units: 144
- Square Footage: 142,560
- Price per Unit: $215,278
- Price per Square Foot: $217
- Address: 26 Scenic Drive, Croton-On-Hudson
- Market: Croton-On-Hudson
- Buyer: Bernard Lindgren
- Seller: Richard Bartzick
- Brokers: Anthony Watkins & David Algarin - Oak & Avery Group
The deal was facilitated by expert brokers Anthony Watkins and David Algarin from Oak & Avery Group. Their professionalism and industry knowledge were instrumental in bringing together both the buyer and seller to successfully close this significant transaction.
On the Map
$31,000,000
$217/SF
MultiFamily
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Players
Croton On Hudson 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93