Cawley of National Multifamily brokers six-unit multifamily

Port Chester, NY National Multifamily brokered the sale of a six-unit apartment building located at 56-58 Oak St. to a NY-based investor for $750,000 ($125,000 per unit). The deal closed on March 28^th. Company president Matt Cawley represented the seller and procured the buyer in the off-market transaction.

The subject property was comprised of 6 two-bedroom units. The three-story property, totaling 4,212 s/f was originally built in 1900 via city records. Situated on a .12-acre lot, the site has a backyard that is not accessible from the street. The owner pays for common electric and the water for utilities. The tenants paid for the heat and hot water through individual gas systems.

Cawley said “We are pleased to have represented the seller who had owned the property for over 44 years. The deal technically occurred off-market as we procured the buyer on the first day of the listing agreement. The quickness of the deal showcases the demand for apartment buildings surrounding the construction boom of downtown Port Chester.”