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276 5th Avenue

Updated Apr 7, 2025

Gregory Jones & Graham Jones Acquire Multifamily Asset In Cordova For $71 Million
SOLDMultiFamily

Gregory Jones & Graham Jones Acquire Multifamily Asset In Cordova For $71 Million

276 5th Avenue

$71,000,000

$132/SF

Building Size

534,470 SF

Asset Type

MultiFamily

Closing

Apr 1, 2025

About this deal

AI

The property asset involved in this transaction is a multifamily type located at 536 Shelby Grove Dr, Cordova, TN. The sale was completed for $71,000,000, encompassing a total of 516 units. The property covers a square footage of 534,470 with a price per unit of $137,596 and a price per square foot of $132.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $71,000,000
  • Units: 516
  • Price Per Unit: $137,596
  • Square Footage: 534,470
  • Price Per Square Foot: $132
  • Buyer: Gregory Jones & Graham Jones - GRJ
  • Seller: Coastal Ridge
  • Date of Transaction: 04/01/2025

Key individuals involved in the transaction include buyers Gregory Jones and Graham Jones, who represent GRJ in this acquisition. The seller, Coastal Ridge, was responsible for the property being sold in this deal, marking a notable transaction in the multifamily market of Cordova, TN.

On the Map

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$71,000,000

$132/SF

MultiFamily

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Players

CR
Coastal RidgeSeller
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $132 per square foot on a published $71M for 534,470 square feet (2025).

Browse New York multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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