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Alexandria Redevelopment & Housing Authority Acquires Development Site At 1112 First Street For $56.8M
SOLD
$56,800,000
Virginia
See Similar DealsDevelopment Site
Sold 08/07/2025
SOLD
Alexandria Redevelopment & Housing Authority Acquires Development Site At 1112 First Street For $56.8M
1112 First Street
See Similar DealsDevelopment Site
Sold 08/07/2025
Summary
VIRGINIA
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 1112 First Street, Alexandria, VA. The property was sold for $56,800,000. This off-market deal was facilitated by Cohn Property Group.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $56,800,000
- Buyer: Alexandria Redevelopment & Housing Authority
- Brokers: Josh Simon, Mychael Cohn & Sam Gordon - Cohn Property Group
The Alexandria Redevelopment & Housing Authority is the entity that acquired the property, with the arrangement being managed by the brokerage team from Cohn Property Group. The transaction reflects a strategic acquisition for development purposes in Old Town Alexandria.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,029,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$201,798.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$269,260.98
Annual Debt Service$3,231,131.74
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