Updated Sep 4, 2026
Richard Ressler Of CIM Group & Hulic Co Acquires 135-Unit Multifamily At 51 South Broadway For $64.3M
51 South Broadway
$64,300,000
Units
135
Asset Type
MultiFamily
Closing
Sep 3, 2026
About this deal
AI
The asset involved in the transaction is a 135-unit multi-family apartment building located at 51 South Broadway in White Plains. The sale price for this property was $64,300,000, resulting in a price per unit of $476,296.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $64,300,000
- Address: 51 South Broadway
- Market: White Plains
- Units: 135
- Price per Unit: $476,296
- Buyer: Richard Ressler - CIM Group & Hulic Co
- Seller: Randy Salvatore - RMS Companies
The deal marks CIM Group's first investment in Westchester County, highlighting the involvement of Richard Ressler and his partnership with Japan's Hulic Co in this significant acquisition. Randy Salvatore represented RMS Companies in the sale.
Players
Sanford 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93