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Ariel Property Advisors Facilitates $6M Multifamily Sale In Ridgewood With 27 Units

Property Image
SOLD
$5,925,000
Remi Mandell
Jake Brody
+ 1

New York

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MultiFamily20,320 SF
Sold 04/28/2025
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Property Image
SOLD

Ariel Property Advisors Facilitates $6M Multifamily Sale In Ridgewood With 27 Units

56 11 Clover Place

See Similar Deals
MultiFamily20,320 SF
Sold 04/28/2025
Remi Mandell
Jake Brody
+ 1
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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.

Players

Victor Sozio
111 deals$2.3B volume
BROKER

Remi Mandell
Ariel Property Advisors
16 deals$514.6M volume
BROKER

Jake Brody
Ariel Property Advisors
12 deals$198M volume(212) 544-9500
BROKER

Paul Monaco
Ariel Property Advisors
5 deals$16.1M volume
BROKER

Details

SOLD
IMAGE: Victor Sozio, Jake Brody, Remi Mandell & Paul Monaco DATE: 4/29/2025 ADDRESS: 56-07/11/21 Clover Place MARKET: Ridgewood ASSET TYPE: Multifamily BROKERS: Victor Sozio, Jake Brody, Remi Mandell & Paul Monaco - Ariel Property Advisors (@ArielPA.NYC) SALE PRICE: $6,000,000 UNITS: 27 ~ PPU: $222,222 SF: 20,320 ~ PPSF: $295

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Deal Type
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