The Oak & Avery Group sells Pine Tree Garden Apartments for $5.7 million

Cairo, NY The Oak & Avery Group negotiated the sale of Pine Tree Garden Apartments, a 56-unit multifamily complex located at 17 Gina Marie Ave. Anthony Watkins, president, represented the seller, Woodlands at Cairo LLC, a NYC-based fund, and the buyer, Skyhampton Investment Group.

This is the second sale of this asset within three years. The $5.7 million sale price equated to a cap rate exceeding 10% and $101,786 per unit.