Updated Dec 4, 2024
Daniel Lauchheimer & Josh Stein's 3Y Realty LLC Acquires Watervliet Multifamily For $40M
2901 Vermont View Drive
$40,000,000
$114/SF
Building Size
350,000 SF
Asset Type
MultiFamily
Closing
Nov 7, 2023
About this deal
AI
Located at 2901 Vermont View Drive, in the city of Watervliet, this recent closed transaction involved a multifamily property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Units: 654
- Price Per Unit (PPU): $61,162
- Square Footage (SF): 350,000
- Price Per Square Foot (PPSF): $114
The buyers of this property were Daniel Lauchheimer and Josh Stein, who acquired it through their company 3Y Realty LLC.
Facilitating the deal was broker Jonathan Weinstein from Pyramid.
The multifamily sale at 2901 Vermont View Drive in Watervliet, New York sold for $40M in 2023. Reported inventory is 350,000 square feet across 645 units, or about 114 per square foot. Jonathan (Jon) Weinstein, Daniel Lauchheimer, Pyramid Brokerage Company appear on the sale alongside Pyramid Brokerage Company. This page is the Watervliet, New York file for the 2901 Vermont View Drive multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Watervliet sit in the Market section below. Filter that Watervliet multifamily set by closing date to see what else sold near 2901 Vermont View Drive around 2023. Published consideration for 2901 Vermont View Drive is $40M, dated 2023. Cite this Daniel Lauchheimer & Josh Stein's 3Y Realty LLC Acquires Watervliet Multifamily For $40M sale when underwriting similar multifamily product around Watervliet, New York.
Players
Watervliet 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93