Benchmark REG Acquires Multifamily Property On Bedford St In WV For $21M
SOLD
$21,000,000
New York
See Similar DealsMultiFamily17,556 SF
Sold 01/29/2019
SOLD
Benchmark REG Acquires Multifamily Property On Bedford St In WV For $21M
35 Bedford Street, New York, NY 10014, USA
See Similar DealsMultiFamily17,556 SF
Sold 01/29/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,196
Total Square Footage:17,556 SF
Transaction Type:Sale
A multifamily property located at 35 Bedford St. in the WV market has been sold for $21 million. The property spans 17,556 square feet, resulting in a price per square foot of $1,196. Benchmark REG purchased the property from Renaissance Properties in a closed transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21 million
- Address: 35 Bedford St.
- Market: WV
The buyer, Benchmark REG, acquired the property from the seller, Renaissance Properties. The transaction was facilitated by Aaron Jungreis of Rosewood Realty Group NY, representing the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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