Ken Wellar & Douglas I. Sitt Broker RRA Facilitates $23.5M Sale Of Student Housing In North Central New York
SOLD
$23,500,000
New York
See Similar DealsOther197,301 SF
Sold
SOLD
Ken Wellar & Douglas I. Sitt Broker RRA Facilitates $23.5M Sale Of Student Housing In North Central New York
7114 State Route 104, Oswego, NY 13126, USA
See Similar DealsOther197,301 SF
Sold
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$119
Total Square Footage:197301 SF
Transaction Type:Sale
The student housing property located at 7114 State Route 104 in North Central New York has been sold for a total price of $23,500,000. The transaction took place on 11/03/2021. The property spans approximately 197,301 square feet, resulting in a price per square foot of $119. Ken Wellar and Douglas I. Sitt of RRA represented the parties involved in the deal.
Summary of transation details
- Property Type: Student Housing
- Transaction Amount: $23,500,000
Ken Wellar and Douglas I. Sitt, both from RRA, played a pivotal role as brokers in facilitating the sale of the student housing property at 7114 State Route 104. Their expertise and representation were crucial in ensuring a successful transaction between the parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,253,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,490.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,401.99
Annual Debt Service$1,336,823.87
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