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| Edward Jordan |
WHITE PLAINS, NY, April 3, 2015 -- Investment sales broker
Northeast Private Client Group has announced the sale of four buildings located
in lower Westchester County, New York.
Edward Jordan, JD, CCIM, the firm’s managing director, and Steven Dambrosio of the firm’s White
Plains office, exclusively represented the sellers and sourced the buyers in
multiple transactions totaling $12,000,000; all of the transactions closed
during the first quarter of 2015.
“The success of these transactions is the direct result of
our relationship approach to investment sales,” said Jordan. “Leveraging our multi-state platform we were
able to create competition and source the most qualified buyers for each of
these assets.”
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| Steven Dambrosio |
On March 31, Northeast Private Client Group closed the sale
of 106 Locust Hill Avenue, a 42-unit multifamily property located in Yonkers,
NY. The seller, JAM 3 Property LLC of
Bedford, NY, transferred to the property to a Yonkers-based investor for
$4,550,000. 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.
On March 26, Jordan and Dambrosio closed the sale of 6 East
Sidney Avenue in Mount Vernon, NY. The
27,000-square foot property includes six stores and 24 apartments. The seller, Trion Real Estate Management of
Yonkers, NY, transferred to the property to a Bronx-based investor for
$3,150,000. This price equates to a
price per square foot of more than $116 and a capitalization rate of 7.7% on
the current net operating income.
Northeast Private Client Group closed an earlier transaction
for seller Trion Real Estate Management on January 22 with the sale of 5 West
4th St in Mount Vernon, NY. The
34,000-square foot property, comprising three stores and 36 apartments, was
sold to a Bronx-based investor for $3,200,000.
This price equates to a price per square foot of more than $94 and a
capitalization rate of 7.9% on the current net operating income.
Finally, Jordan and Dambrosio sold a nine-unit multifamily
property located at 259 Webster Avenue in New Rochelle, NY. The transaction closed on January 30 between
two private Westchester investors at a price of $850,000. This price equates to a price per unit of
more than $94,000 and a capitalization rate of 6.5% on the current net
operating income.
“Westchester multifamily and mixed-use assets are trading at
record pricing,” said Dambrosio. “Local
owners and investors benefit from our long-term relationships, competitive
process, market knowledge and history of successful transactions.”
For a complete copy
of the company’s news release, please contact:
Randy Savicky
Founder/CEO
Strategy+Communications
Connecting the New PR & Marketing to Business Goals
203-226-6156
