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3001 Parkway Ave, Charlotte...

Nu Partners Acquires Multifamily Property On Parkway Avenue For $5.35M
SOLDMultiFamily

Nu Partners Acquires Multifamily Property On Parkway Avenue For $5.35M

3001 Parkway Ave, Charlotte, NC 28208, USA

$5,350,000

$121/SF

Building Size

44,000 SF

Asset Type

MultiFamily

Closing

Nov 17, 2022

AI

The multifamily property located at 3001 Parkway Avenue in Charlotte, NC has been sold in a closed transaction. The property spans 44,000 square feet and was sold for a price of $5,350,000, resulting in a price per square foot of $122.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,350,000
  • Address: 3001 Parkway Avenue, Charlotte, NC
  • Market: Charlotte, NC
  • Buyer: Nu Partners
  • Seller: Lucern Capital Partners - Frank Forte, Mark Callazzo & David Hansel
  • Broker: Ron Corrao - Capstone Companies
  • Square Footage: 44,000
  • Price per Square Foot: $122

The buyer of the property is Nu Partners, while the seller is Lucern Capital Partners, represented by Frank Forte, Mark Callazzo, and David Hansel. The transaction was facilitated by Ron Corrao from Capstone Companies.

Players

Frank Forte

Lucern Capital

Seller

$85.7M

vol

8 deals

Seller

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

2.97%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93