JD Cohen Acquires Multifamily Property In Southampton For $780,000

A multifamily property located at 332 Canoe Place Road in Southampton has been sold. The sale was recorded on 02/25/2021. The asset consists of three units, with a per unit price of $260,000. The property was sold for $780,000, which was lower than the asking price of $875,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $780,000
• Address: 332 Canoe Place Road
• Market: Southampton
• Units: 3
• Price Per Unit: $260,000

The buyer of the property is JD Cohen, while the seller is Ronald Klausner. The transaction was facilitated by brokers Alexis Mayer from Corcoran and Jessica Bell from Coldwell Banker.

The buyer financed the purchase with a 5% down payment using FHA and secured a 2.25% interest rate on a 30-year interest-only loan. The legal and title matters were handled by Young America Abstract, LLC, specifically by Dani Siegel and Jane Siegel. Paul Leibowitz from Westport Mortgage managed the debt for the buyer. JD Cohen, the buyer, is actively looking for more suburban value-add opportunities and can be reached at 203-858-6375.