Harbor Group International Acquires Multifamily Property In Bala Cynwyd, PA For $59.5M
SOLD
$59,500,000
Pennsylvania
See Similar DealsMultiFamily266,466 SF
Sold 06/25/2020
SOLD
Harbor Group International Acquires Multifamily Property In Bala Cynwyd, PA For $59.5M
600 Righters Ferry Road, Bala Cynwyd, PA, USA
See Similar DealsMultiFamily266,466 SF
Sold 06/25/2020
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$223
Total Square Footage:266,466 SF
Transaction Type:Sale
The multifamily property located at 600 Righters Ferry Rd in Bala Cynwyd, PA was recently sold for a total price of $59,500,000. The transaction took place on June 25, 2021, with the buyer being Harbor Group International. The property consists of 275 units, resulting in a price per unit of $216,364.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $59,500,000
- Units: 275
- Price Per Unit: $216,364
Erin Miller from Newmark represented Harbor Group International in this sale. This transaction showcases the active real estate market in Bala Cynwyd, PA, and the attractive investment opportunities available in the multifamily sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$211,390.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$282,060.36
Annual Debt Service$3,384,724.27
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