Brian Soto Acquires 24-Unit Multifamily In Yonkers For $5M
324 Palisade Avenue, Yonkers, NY 10703
$5,000,000
$153/SF
Building Size
32,620 SF
Asset Type
MultiFamily
Closing
Jan 14, 2022
AI
A multifamily property located at 324 Palisade Ave. in Yonkers has been sold for $5,000,000. The property consists of 24 units with an average price per unit of $208,333. The total square footage of the property is 32,620, making the price per square foot $153.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Units: 24
- Price per Unit: $208,333
- Square Footage: 32,620
- Price per Square Foot: $153
The buyer of the property is Brian Soto, and the seller is Norma Nemeh. The deal was facilitated by Michael Scrima and Thomas Gorman Jr. of Redwood Realty Advisors, who represented the buyer and seller respectively.
Players
City of Yonkers 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93