Daniel Lauchheimer & Josh Stein's 3Y Realty LLC Acquires Watervliet Multifamily For $40M
SOLD
$40,000,000
New York
See Similar DealsMultiFamily350,000 SF
Sold 11/07/2023
SOLD
Daniel Lauchheimer & Josh Stein's 3Y Realty LLC Acquires Watervliet Multifamily For $40M
2901 Vermont View Drive
See Similar DealsMultiFamily350,000 SF
Sold 11/07/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$114
Total Square Footage:350,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88
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