Investment sales broker Northeast Private Client Group (NPCG) arranged the sale of four buildings located in lower Westchester County. Edward Jordan, JD, CCIM, the firm's managing director, and Steven D'Ambrosio of the firm's White Plains office, exclusively represented the sellers and sourced the buyers in the following transactions totaling $12 million:
* NPCG closed the sale of 106 Locust Hill Ave., a 42-unit multifamily property located in Yonkers. The seller, JAM 3 Property LLC of Bedford, transferred the property to a Yonkers-based investor for $4.55 million. This price equates to a price per unit of more than $108,000 and a capitalization rate of 7.6% on the current net operating income.
* Jordan and D'Ambrosio closed the sale of 6 East Sidney Ave. in Mount Vernon. The 27,000 s/f property includes six stores and 24 apartments. The seller, Trion Real Estate Management of Yonkers, transferred to the property to a Bronx-based investor for $3.15 million. This price equates to a price per s/f of more than $116 and a capitalization rate of 7.7% on the current net operating income.
* NPCG closed an earlier transaction for seller Trion Real Estate Management with the sale of 5 West 4th St. in Mount Vernon. The 34,000 s/f property, comprising three stores and 36 apartments, was sold to a Bronx-based investor for $3.2 million. This price equates to a price per s/f of $94 and a capitalization rate of 7.9% on the current net operating income.
* Jordan and D'Ambrosio sold a nine-unit multifamily property located at 259 Webster Ave. in New Rochelle. The transaction closed between two private Westchester investors at a price of $850,000. This price equates to a price per unit of $94,000 and a capitalization rate of 6.5% on the current net operating income. Tags: