Oak & Avery Group sells 18 units for $2.195 million
Mount Vernon, NY The Oak & Avery Group completed the sale of an 18-unit multifamily building located at 4 West 4th St.
The sale price was $2.195 million.
Anthony Watkins, president, and David Algarin, vice president, represented both the sellers, NYC-based ABC Management Corp. and the buyers, Joseph Stein/4 W 4, LLC, in the transaction.
“The sale represents continued interest and investment in rent-stabilized assets, despite last year’s stymying laws. The in-place cap rate and a predominantly preferential rent roll made for a very fair deal for both parties.”