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Posted: January 24, 2017
Cawley of United Multi Family brokers $4.055 million sale of 36 units
Yonkers, NY Matt Cawley of United Multi Family (UMF) brokered two separate transactions to the same buyer for a total price of $4.055 million or ($112,638/unit).
Matt Cawley, United Multi FamilyThe first property was a four building portfolio totaling 28 units located at 50, 52, 54 Fairview St. and 28 Orchard Pl. The properties consisted of three six-unit buildings (five two-bedroom units and a one-bedroom unit) located at 50, 52, 54 Fairview St. and 10 units at 28 Orchard Pl. (nine three-bedroom units and a one bedroom unit).
The CAP rate at the time of sale was 8.06% with the property having a gross annual income of $415,206.
The second property was an 8 unit building located at 12 Orchard Pl. which sold for $975,000 ($121,875 per unit). The brick residences were built in 1900 and had a CAP rate at the time of sale of 10.10% with the property having a gross annual income of $142,860.
12 Orchard Place - Yonkers, NY
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