6-story walkup apartment building is in excellent condition and well managed. Separate hot water heater/hot water tanks. Property is within a 5 minute walk to the 2 train at the Nereid Avenue stop.
The property sold for $1,925,000 with a 9.4% Cap Rate, and a price per unit of $71,296 Richard T. Guarino and Michael Guarino Jr. of ERG Property Advisors represented both buyer and seller in this transaction.
For more information about this property, please contact or Richard T. Guarino at (646) 253-0909 his email is firstname.lastname@example.org. You may also contact Michael Guarino Jr. at (646) 253- 0908 his email is email@example.com.
About ERG Property Advisors
ERG Property Advisors is a full-service commercial real estate brokerage company based in New York City. Its core activities are investment sales and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Visit www.ergpa.com for recent deals and press coverage.