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Nick Stageberg Of Black Swan Realty Acquires Meadow Park Apartments In Rochester For $4M
SOLD
$4,000,000
New York
See Similar DealsMultiFamily
Sold 04/23/2025
SOLD
Nick Stageberg Of Black Swan Realty Acquires Meadow Park Apartments In Rochester For $4M
412 14th Street
See Similar DealsMultiFamily
Sold 04/23/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 412 14th Street in Rochester. The sale price was $4,000,000, with a total of 90 units, translating to a price per unit of $44,444.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 412 14th Street
- Market: Rochester
- Units: 90
- Price Per Unit: $44,444
- Buyer: Nick Stageberg - Black Swan Realty
- Broker: Ryan Spengler - Small Bay Properties
Principal Nick Stageberg of Black Swan Realty stated that the company plans to invest millions in repairs to the acquired Meadow Park Apartments while ensuring the units remain affordable for residents.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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