Updated Jul 14, 2025
Affiliate Of New York Life Insurance Co Acquires Multifamily Property In Durham For $55.7M
110 North Corcoran Street, Durham, North Carolina 27701, United States
$55,700,000
Units
109
Asset Type
MultiFamily
Closing
Sep 5, 2022
About this deal
AI
An affiliate of New York Life Insurance Co has purchased a multifamily property located at 110 North Corcoran Street in Durham, NC. The property consists of 109 units and was sold for a total price of $55,700,000, resulting in a per unit price of $511,009.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $55,700,000
- Address: 110 North Corcoran Street, Durham, NC
- Market: Durham, NC
- Buyer: Affiliate of New York Life Insurance Co
- Broker: Northmarq
- Units: 109
- Price Per Unit: $511,009
The buyer in this transaction is represented by Northmarq, a brokerage firm.
Players
Durham 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93