Hudson Valley Property Group Acquires Multifamily Property In East Providence For $53.7M
SOLD
$53,700,000
Rhode Island
See Similar DealsMultiFamily
Sold 02/19/2022
SOLD
Hudson Valley Property Group Acquires Multifamily Property In East Providence For $53.7M
25 Gemini Drive, East Providence, Rhode Island 02914, United States
See Similar DealsMultiFamily
Sold 02/19/2022
Summary
RHODE ISLAND
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 25 Gemini Dr in East Providence, RI, has been sold for a total price of $53,700,000. The sale occurred on 02/19/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,700,000
- Address: 25 Gemini Dr
- Market: East Providence, RI
The buyer in this transaction is Hudson Valley Property Group represented by Jason Bordainick. The seller is Taymil Partners, and the deal was facilitated by the brokerage firm CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,863,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$190,784.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$254,565.40
Annual Debt Service$3,054,784.76
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