facebook
Traded Co logo
Submit
Daily limit: 0/10

Alma Realty Corp Acquires 88-Unit Multifamily Complex On West 188th St In Fort George, Manhattan For $10.7M

Property Image
SOLD
$10,700,000

New York

See Similar Deals
MultiFamily
Sold 09/08/2023
the dealplayerscompscontact
Property Image
SOLD

Alma Realty Corp Acquires 88-Unit Multifamily Complex On West 188th St In Fort George, Manhattan For $10.7M

658 West 188th Street

See Similar Deals
MultiFamily
Sold 09/08/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale

An 88-unit multifamily apartment complex located at 658 W. 188th St. in Fort George, Manhattan, has been sold for $10.7 million. The property, represented by Alma Realty Corp., was purchased from seller Brian Ritter. The transaction marks a significant investment in the Fort George market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,700,000
  • Address: 658 West 188th Street, Fort George, Manhattan
  • Market: Fort George, Manhattan
  • Buyer: Alma Realty Corp - George Valiotis
  • Seller: Brian Ritter

Alma Realty Corp., represented by George Valiotis, closed the deal to acquire the 88-unit multifamily property at 658 West 188th Street in Fort George. The transaction, facilitated by Abraham Philip, represents a significant investment opportunity in the thriving Manhattan market.

Players

AC
Alma Realty Corp
BUYER
Brian Ritter
Brian Ritter
6 deals$76.4M volume
SELLER

Details

SOLD
IMAGE: George Valiotis & Brian Ritter DATE: 09/08/2023 ADDRESS: 658 West 188th Street MARKET: Fort George, Manhattan ASSET TYPE: Multifamily BUYER: Alma Realty Corp - George Valiotis SELLER: Brian Ritter SALE PRICE: $10,700,000 UNITS: 88 ~ PPU: $121,591 NOTE: Alma Realty Corp., represented by Abraham Philip, purchased an 88-unit multifamily apartment complex located at 658 W. 188th St. in Fort George, Manhattan, from seller Brian Ritter for a sale price of $10.7 million.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$570,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51