Continental Realty Corp Acquires 1010 Dilworth Apartments In Charlotte For $51.9M
1010 Kenilworth Avenue
$51,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 12, 2023
AI
Maryland real estate investor Continental Realty Corp has acquired the 1010 Dilworth Apartments in Charlotte, NC for $51.9 million. The multifamily property, located at 1010 Kenilworth Avenue, spans 2.2 acres. The sale was completed on 10/12/2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $51,900,000
- Address: 1010 Kenilworth Avenue
- Market: Charlotte, NC
- Buyer: JM Schapiro - Continental Realty Corp
- Seller: Cathy Marcus & Raimondo Amabile - PGIM Real Estate
The buyer of the 1010 Dilworth Apartments is JM Schapiro of Continental Realty Corp, a Maryland-based real estate investor. The seller of the property is Cathy Marcus and Raimondo Amabile of PGIM Real Estate. This acquisition marks Continental Realty Corp's fourth multifamily property in Charlotte, further expanding its investment portfolio. The transaction was completed for a total price of $51.9 million.
Players
Charlotte 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93