Kempner Properties Acquires Multifamily Property In Hudson Valley For $2.35M
SOLD
$2,350,000
New York
See Similar DealsMultiFamily26,400 SF
Sold 05/03/2022
SOLD
Kempner Properties Acquires Multifamily Property In Hudson Valley For $2.35M
310 Route 66, Greenport, NY 12534
See Similar DealsMultiFamily26,400 SF
Sold 05/03/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$89
Total Square Footage:26,400 SF
Transaction Type:Sale
The multifamily property located at 310 NY-66 in Hudson Valley has been sold in a recent transaction. The sale was finalized on 05/03/2022, with a sale price of $2,350,000. The property consists of 24 units, resulting in a price per unit of $97,916. The total area of the property is 26,400 square feet, translating to a price per square foot of $89.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Units: 24
- Price Per Unit: $97,916
- Square Feet: 26,400
- Price Per Square Foot: $89
The buyer of the property is Kempner Properties, represented by Robert Kempner and Douglas Kempner. The seller is Anderson Agency, represented by Kim Voltz. Evan Rugen from R New York acted as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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