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Icer Properties Acquires Multifamily Property In St. Andrews For $5.7M

Property Image
SOLD
$5,700,000
Joseph L. Jemal

South Carolina

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MultiFamily1,110 SF
Sold 07/14/2020
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Property Image
SOLD

Icer Properties Acquires Multifamily Property In St. Andrews For $5.7M

800 Beatty Rd, St Andrews, SC, USA

See Similar Deals
MultiFamily1,110 SF
Sold 07/14/2020
Joseph L. Jemal
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Summary

SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$5,135
Total Square Footage:1,110 SF
Transaction Type:Sale

The multifamily property located at 800 Beatty Rd. in St. Andrews has recently been sold in a transaction. The sale took place on July 14, 2021, with a sale price of $5,700,000. The property consists of 99 units, resulting in a price per unit of $57,575.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,700,000
  • Address: 800 Beatty Rd.
  • Market: St. Andrews

The buyer of the property was @IcerProperties represented by Joseph Jemal. On the other hand, Soar Equities, represented by Adam Austein and Shlomo Tajerstein, acted as the seller. Jonathan Brody, from Rosewood Realty Group, served as the broker in this transaction.

With this transaction, @IcerProperties has acquired the multifamily property at 800 Beatty Rd., while Soar Equities has relinquished ownership. Jonathan Brody from Rosewood Realty Group has provided brokerage services in facilitating this deal.

Players

Jonathan Brody
48 deals$1.7B volume(516) 507-0193
BROKER

Rosewood Realty Group
BROKERAGE

Details

SOLD
IMAGE: Jonathan Brody & Joseph Jemal DATE: 07/14/2021 ADDRESS: 800 Beatty Rd. MARKET: St. Andrews ASSET TYPE: Multifamily BUYER: @IcerProperties - Joseph Jemal SELLER: Soar Equities- Adam Austein & Shlomo Tajerstein BROKER: Jonathan Brody @RosewoodRG SALE PRICE: $5,700,000 UNITS: 99 ~ PPU: $57,575

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$304,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90