Updated Oct 28, 2024
Continental Realty Corporation Acquires Multifamily Property In Raleigh, NC For $36.5M
600 Saint Marys Street, Raleigh, North Carolina 27605, United States
$36,500,000
Units
65
Asset Type
MultiFamily
Closing
Aug 8, 2022
About this deal
AI
The multifamily property located at 600 St Marys St in Raleigh, NC has been sold for a total price of $36,500,000. The property consists of 65 units, resulting in an average price per unit of $561,538.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $36,500,000
- Address: 600 St Marys St, Raleigh, NC
- Market: Raleigh, NC
The buyer of the property is Continental Realty Corporation, while the broker representing the transaction is Dean Smith from Newmark.
The multifamily sale at 600 Saint Marys Street, Raleigh, North Carolina 27605, United States in Raleigh, North Carolina sold for $36.5M in 2022. Reported inventory is 65 units across 65 units. Dean Smith, Newmark, Continental Realty Corporation appear on the sale alongside Newmark, Continental Realty Corporation. This page is the Raleigh, North Carolina file for the 600 Saint Marys Street, Raleigh, North Carolina 27605, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Raleigh sit in the Market section below. Filter that Raleigh multifamily set by closing date to see what else sold near 600 Saint Marys Street, Raleigh, North Carolina 27605, United States around 2022. Published consideration for 600 Saint Marys Street, Raleigh, North Carolina 27605, United States is $36.5M, dated 2022. Cite this Continental Realty Corporation Acquires Multifamily Property In Raleigh, NC For $36.5M sale when underwriting similar multifamily product around Raleigh, North Carolina.
Players
Raleigh 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93