Property Address: 4 Van Cortlandt Park Avenue, Yonkers, NY 10701
Description: 10 Unit Apartment building
Construction: Pre-War Masonry subject to the Rent Stabilization Laws
Closing Date: March 11, 2020
Selling Price: $1,660,000.00
Seller: Five Grand Group LLC
Purchaser: Daniel Lauchheimer
Sellers Agent: Michael Nukho: Principal Broker of NuRealty Advisors Inc.
Purchasers Agent: Lukasz Przybylek, Associate Broker of NuRealty Advisors Inc.
YONKERS, NY — March 26, 2020 — “This was an extremely challenging sale given light of the 2019 Rent Reform Law which took effect on June 15, 2019,” noted Michael Nukho, Principal Broker of NuRealty Advisors Inc. NuRealty was instrumental in infusing a sense of confidence in the parties to both educate and broker the effects of the new law both in operations and valuation. We are a brokerage firm with the skill set to navigate through any market condition for our investors’ sake.
Lukasz Przybylek, Associate Broker of NuRealty Advisors Inc. advised that although this was an in-house transaction, the investor engaged in the transaction because it was coupled with strategic financing as consulted by NuRealty, delivered a high Return on Investment (ROI) specifically for the Cash-on-Cash matrix, and allowed for a significant upside in the property for years to come.
NuRealty Advisors Inc.’s experience and professionalism is testimony to their demeanor. It is evident when specifically applied in a tough and challenging market by its principals.