Dimitris Vattes Sells MultiFamily Property In Richmond Hill For $3.2M
85-29 114th Street
$3,200,000
$196/SF
Building Size
16,281 SF
Asset Type
MultiFamily
Closing
Sep 12, 2023
AI
The recently sold property in Richmond Hill at 85-29 114th Street is a multifamily asset consisting of 16 units. The property was sold by Dimitris Vattes for a price of $3,200,000, resulting in a per unit price of $200,000. The total square footage of the property is 16,281, making the price per square foot $197. Located in the Richmond Hill market, this multifamily property offers a lucrative investment opportunity.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $3,200,000
- Units: 16
- Price Per Unit: $200,000
- Total Square Footage: 16,281
- Price Per Square Foot: $197
- Seller: Dimitris Vattes
- Brokers: Yosef Katz, Shlomo Antebi, Erik Yankelovich, and Elli Khafizov - Atlas Realty Group
The sale of this multifamily property was facilitated by Yosef Katz, Shlomo Antebi, Erik Yankelovich, and Elli Khafizov from Atlas Realty Group. Their expertise and negotiation skills played a significant role in the successful completion of this transaction. This sale demonstrates the strong presence of Atlas Realty Group in the Richmond Hill market, showcasing their ability to handle multimillion-dollar deals with utmost professionalism.
Players
Richmond Hill 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93