Milhouse Properties And Olshan Properties Acquire Multifamily Asset From Scandinavian Homes For $40.1M
SOLD
$40,100,000
+ 1
New York
See Similar DealsMultiFamily227,484 SF
Sold 07/06/2017
SOLD
Milhouse Properties And Olshan Properties Acquire Multifamily Asset From Scandinavian Homes For $40.1M
385 Ft. Washington Avenue & 395 Ft. Washington Avenue
See Similar DealsMultiFamily227,484 SF
Sold 07/06/2017
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:227,484 SF
Transaction Type:Sale
The property asset involved in the transaction is a MultiFamily asset located at 385 Ft. Washington Avenue in the New York market. The property was sold for a total amount of $40,100,000.00 and has a square footage of 113,742.0.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $40,100,000.00
- Address: 385 Ft. Washington Avenue
- Market: New York
- Square Footage: 113,742.0
- Buyer: Milhouse Properties/Olshan Properties
- Seller: Scandinavian Homes, LLC
- Brokers: Barak Jacobov, Michael Weiser (GFI Realty Services), Yisroel Pershin, Shawn Sadaghati
- Sale Date: 07/06/2017
Key individuals involved in the deal include the buyers, Milhouse Properties and Olshan Properties, who acquired the asset. The seller of the property was Scandinavian Homes, LLC. The brokers representing the transaction are Barak Jacobov, Michael Weiser from GFI Realty Services, Yisroel Pershin, and Shawn Sadaghati.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,138,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,466.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$190,094.46
Annual Debt Service$2,281,133.50
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