Updated Feb 24, 2025
Anthony Santorelli Of TRG Equities Purchases MultiFamily Property In Ridgewood For $5.3M
59 29 Myrtle Avenue
$5,300,000
$441/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
Feb 6, 2025
About this deal
AI
The transaction involves a multi-family property located at 59-29, 59-35, 59-37 & 59-39 Myrtle Avenue in Ridgewood. The asset comprises 11 units and encompasses a total square footage of 12,000. The sale price was recorded at $5,300,000, with a per unit price of $481,818 and a price per square foot of $441.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $5,300,000
- Units: 11
- Square Footage: 12,000
- Price Per Unit: $481,818
- Price Per Square Foot: $441
- Buyer: Anthony Santorelli - TRG Equities
- Seller: AMS Acquisitions
- Transaction Date: 02/06/2025
The key individuals involved in this transaction include Anthony Santorelli, who represents TRG Equities as the buyer, and the seller represented by AMS Acquisitions. This deal marks a significant transaction within the Ridgewood market, showcasing active participation from both parties in a competitive multi-family sector.
Players
Ridgewood 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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93