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Updated about 1 year ago,

User Stats

18
Posts
2
Votes
Garrett Finnell
  • Realtor
  • Oklahoma City
2
Votes |
18
Posts

80 Unit Multi Family Off-Market Property in NY Available for Purchase

Garrett Finnell
  • Realtor
  • Oklahoma City
Posted

Hey ya'll, I've got a client that is in the process of finishing up an off market condo development on Long Island and he's asked for some help getting connected to a buyer. I know deals this big typically don't happen here (not what this site is usually for) but I thought it would be interesting to throw it out to the community here and see what happens or at least see if anyone has a connection I could make to someone that would do a deal this size. 

The property is appraised at a completed market value of $53 Million. 
Units will be just over 1,100 sqft, 1 Bed 1.5 Bath but with a large den space that has the ability to value add and be turned into a 2 bed 1.5 bath. AGI is comped at $3,648,000 with annual OpEx at about $575,500 so bought in cash it's got a 5.8% cash-on-cash return year 1, not including tax incentives. 

If theres interest or if you have a connection for me, feel free to send me a message. 

Thanks y'all!