Brian Soto Acquires 24-Unit Multifamily In Yonkers For $5M
SOLD
$5,000,000
New York
See Similar DealsMultiFamily32,620 SF
Sold 01/14/2022
SOLD
Brian Soto Acquires 24-Unit Multifamily In Yonkers For $5M
324 Palisade Avenue, Yonkers, NY 10703
See Similar DealsMultiFamily32,620 SF
Sold 01/14/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$153
Total Square Footage:32,620 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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