Austin Deraaff & Jake Deraaff Acquire Multifamily Property In Westchester County For $14.3M
81 Highland Avenue & 89 South Highland Ave.
$14,300,000
$115/SF
Building Size
123,650 SF
Asset Type
MultiFamily
Closing
Oct 30, 2023
AI
The multifamily property located at 81-89 South Highland Ave in Westchester County has been sold for $14,300,000. The property consists of 79 units with an average price per unit of $181,013. The total square footage of the property is 61,825, with an average price per square foot of $231. The sale is reported to have a capitalization rate of 5.3%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,300,000
- Units: 79
- Price per Unit: $181,013
- Square Footage: 61,825
- Price per Square Foot: $231
- Capitalization Rate: 5.3%
- Address: 81-89 South Highland Ave
- Market: Westchester County
The buyers for this transaction are Austin Deraaff and Jake Deraaff. The seller is Sudesh Kapoor. Representing the buyer and seller in this deal are Michael Scrima and Thomas Gorman Jr. from Redwood Realty Advisors.
Players
Ossining 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
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93