Ariel Property Advisors Facilitates $6M Multifamily Sale In Ridgewood With 27 Units
SOLD
New York
See Similar DealsMultiFamily20,320 SF
Sold 04/28/2025
SOLD
Ariel Property Advisors Facilitates $6M Multifamily Sale In Ridgewood With 27 Units
56 11 Clover Place
See Similar DealsMultiFamily20,320 SF
Sold 04/28/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:20,320 SF
Transaction Type:Sale
The multifamily asset located at 56-07/11/21 Clover Place in Ridgewood has been sold for $6,000,000. This property comprises 27 units, with a price per unit of $222,222. The total square footage of the building is 20,320, resulting in a price per square foot of $295.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Address: 56-07/11/21 Clover Place
- Market: Ridgewood
- Units: 27
- Price per Unit: $222,222
- Square Footage: 20,320
- Price per Square Foot: $295
This transaction was facilitated by brokers Victor Sozio, Jake Brody, Remi Mandell, and Paul Monaco of Ariel Property Advisors, who represent the interests involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$316,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,050.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,087.52
Annual Debt Service$337,050.27
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