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Cedar Holdings Acquires Multifamily Property In Bronxville For $12M

Property Image
SOLD
$12,000,000
Richard Maltz
Greg Corbin
MT

New York

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MultiFamily144,000 SF
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Property Image
SOLD

Cedar Holdings Acquires Multifamily Property In Bronxville For $12M

759 Palmer Rd, Yonkers, NY 10708, USA

See Similar Deals
MultiFamily144,000 SF
Sold
Richard Maltz
Greg Corbin
MT
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$83
Total Square Footage:144000 SF
Transaction Type:Sale

A multifamily property located at 759 Palmer Road in Bronxville, Yonkers, was recently sold for $12,000,000. The property spans across 144,000 square feet and has 35 units, resulting in an average price per unit of $342,857. The price per square foot is $83.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,000,000
  • Address: 759 Palmer Road, Bronxville, Yonkers
  • Market: Bronxville, Yonkers

The sale of this multifamily property was facilitated by Greg Corbin of Rosewood Realty Group and Richard Maltz of Maltz Auctions. Greg Corbin represented the buyer, Cedar Holdings, while Richard Maltz represented the seller, EMC Bronxville – Edward Collis.

Players

Richard Maltz
Richard Maltz
6 deals$115.8M volume
BROKER
Greg Corbin
Northgate Real Estate Group
Greg Corbin
81 deals$1.1B volume(212) 419-8101
BROKER
Rosewood Realty Group
Rosewood Realty Group
BROKERAGE
MT
Mark Tress
3 deals$29M volume
BUYER

Details

SOLD
IMAGE: Greg Corbin & Richard Maltz DATE: 10/25/2019 ADDRESS: 759 Palmer Road MARKET: Bronxville, Yonkers ASSET TYPE: Multifamily SELLER: EMC Bronxville – Edward Collis BUYER: Cedar Holdings – Mark Tress BROKER: Greg Corbin – Rosewood Realty Group & Richard Maltz – Maltz Auctions SALE PRICE: $12,000,000 SF: 144,000 PPSF: $83 UNITS: 35 PPU: $342,857 NOTE: […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$640,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47