Updated Sep 5, 2024
Rockledge And PH Realty Capital Acquire Multifamily Property In New York For $11.35M
401 Edgecombe Ave New York, NY 10032, USA
$11,350,000
$210/SF
Building Size
53,815 SF
Asset Type
MultiFamily
Closing
May 18, 2023
About this deal
AI
Located at 401-405 Edgecombe Avenue in New York, this multifamily property recently changed hands in a sale transaction. The property comprises 66 units, with a price per unit of $171,970. The total square footage of the property is 53,815, resulting in a price per square foot of $211. The transaction was finalized on May 18, 2023, with a sale price of $11,350,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $11,350,000
- Units: 66
- Price per Unit: $171,970
- Square Footage: 53,815
- Price per Square Foot: $211
The buyers of the property are David Kaye, Joe Listhaus from Rockledge, and Peter Hungerford from PH Realty Capital. They were represented by Ben Khakshoor and Aaron Jungreis from Rosewood Realty Group. The seller in this transaction was Peter Takiff.
Players
New York 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
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93