Whitney Capital Company Acquires Medford Multifamily For $17M
SOLD
$17,000,000
New York
See Similar DealsMultiFamily129,000 SF
Sold 12/02/2021
SOLD
Whitney Capital Company Acquires Medford Multifamily For $17M
500 Addison Place, Medford, NY 11763
See Similar DealsMultiFamily129,000 SF
Sold 12/02/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$131
Total Square Footage:129,000 SF
Transaction Type:Sale
The multifamily property located at 500 Addison Pl. in Medford has been sold in a closed transaction. The sale took place on 12/02/2021, with a sale price of $17,000,000. The property consists of 112 units, resulting in a price per unit of $151,785. Additionally, the property spans 129,000 square feet, making the price per square foot $131.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Units: 112
- Price per Unit: $151,785
- Square Footage: 129,000
- Price per Square Foot: $131
The buyer of the property is Whitney Capital Company, while the seller is The Benjamin Companies. The deal was facilitated by brokers Jack Bick from Charatan Realty and Mike Tuccillo & Nick Tuccillo from Marcus & Millichap.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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