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Brokerage
Posted: June 16, 2020
Watkins and Algarin of Oak & Avery Group broker $1.85 million sale of 10-unit mixed-use building
Eastchester, NY The Oak & Avery Group brokered the sale of a 10-unit mixed-use building, 820 White Plains Rd. The sale price was $1.85 million, representing a 5.5% cap rate.
Anthony Watkins, pesident, and David Algarin, vice president, represented both the sellers and the buyer, in the transaction.
“The sale was put into contract and closed post COVID-19 shutdown. The sale represents a continued interest in multifamily and mixed-use assets in strong locations throughout Westchester County. The building was 30% rent-stabilized and the buyer has a long-term hold strategy,” according to Algarin.
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