Arena Capital Partners Acquires 74 Unit MultiFamily Community In Kingston For $8 Million

Arena Capital Partners has purchased Fairmont Estates, a 74-unit, garden-style apartment community located at 84a Fairmont Avenue in Kingston, NY. The sale price of the property was $8,000,000, with a price per unit of $108,108. The total square footage of the property is 50,000, resulting in a price per square foot of $160.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $8,000,000
• Units: 74
• Square Footage: 50,000
• Price Per Unit: $108,108
• Price Per Square Foot: $160
• Buyer: Arena Capital Partners
• Address: 84a Fairmont Avenue
• Market: Kingston

Key individuals involved in the transaction include Kyle Galin, Darell Handler, and Scott Rosen. These representatives played a role in the successful completion of the acquisition, which aligns with Arena Capital Partners' strategy to seek acquisition opportunities in prime markets throughout the Hudson Valley and Greater Upstate New York Regions.