Updated Oct 28, 2024
Standard Communities Acquires Multifamily Property In West Warwick, RI For $29.57M
47 Tanglewood Drive, West Warwick, Rhode Island 02893, United States
$29,570,000
$209/SF
Building Size
141,500 SF
Asset Type
MultiFamily
Closing
Feb 27, 2022
About this deal
AI
Standard Communities has acquired a multifamily property located at 47 Tanglewood Dr, West Warwick, RI. The transaction took place on February 28, 2022, and the property was sold by Sawyer Realty Holdings. The property spans a total area of 141,500 square feet and was sold at a price of $29,570,000, resulting in a price per square foot of $209.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $29,570,000
- Address: 47 Tanglewood Dr, West Warwick, RI
- Market: West Warwick, RI
The transaction was facilitated by the brokerage firm Cushman & Wakefield, with Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, and Kevin Jones representing the buyer and seller.
Players
West Warwick 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93