Sal D'Avola Acquires Multifamily Property In Mount Hope For $6.7M

The multifamily property located at 1857 Walton Avenue in Mount Hope has been sold in a closed transaction. The property is zoned as R8 and C1-4, indicating its potential for both residential and commercial use. The sale was completed on June 23, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,668,323
• Address: 1857 Walton Avenue
• Market: Mount Hope
• Zoning: R8, C1-4

The buyer of the property is Sal D'Avola, while the seller is Joseph Friedman. The sale price of the property was $6,668,323, with a building square footage (BSF) of 48,912. This translates to a price per BSF (PPBSF) of $136. The total land square footage (SF) is 34,044, resulting in a price per SF (PPSF) of $195.

The property has a floor area ratio (FAR) of 4.19 and falls under Tax Class 2. The lot dimensions are 65 ft x 125 ft, and the total lot size is 8,125 square feet. It is worth noting that an alteration permit of type 3 was obtained for the property on April 29, 2015.