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Multifamily Property In Wes...

Multifamily Property In Westchester, NY Sold For $14.3M
SOLDMultiFamily

Multifamily Property In Westchester, NY Sold For $14.3M

$14,300,000

$190/SF

Building Size

75,000 SF

Asset Type

MultiFamily

Closing

Oct 27, 2023

AI

The multifamily property located in Westchester, NY has been sold in a transaction involving Eric Panecki, David Choi, Austin Deraaff, Jake Deraaff, Anthony Pontoriero, and Evan Mizrahi. The sale price for the property was $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 75,000, giving a price per square foot of $191.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $14,300,000
  • Units: 79
  • Price per Unit: $181,013
  • Total Square Footage: 75,000
  • Price per Square Foot: $191

The buyers of the property include Eric Panecki, David Choi, Austin Deraaff, Jake Deraaff, Anthony Pontoriero, and Evan Mizrahi. They were represented by their respective brokers.

Players

David Choi

Newbergenline

Broker

$20M

vol

6 deals

Broker

Jake Deraaff

Buyer

$35.5M

vol

6 deals

Buyer

Market 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