Michael Nukho, NuRealty Advisors Inc. Principal Broker said, ‘This was an extremely challenging sale as we began listing the property in November 2019. We experienced a downturn in the market both leading up to and post the 2019 Rent Reform Law which took effect on June 15, 2019. NuRealty Advisors Inc. was instrumental to instill confidence in the parties to both educate and broker the effects of the new law both in operations and valuation. We are excited to be a brokerage firm that has the skill set to navigate through any market condition for our investors.”
Purchaser’s Agent Lukasz Pryzbylek, and Associate Broker of NuRealty Advisors Inc. said, “Although this was an in-house transaction, the Investor was excited to engage in a transaction that 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 significant upside in the property for years to come.
Property Address: 84-86 Hamilton Avenue, Yonkers, NY 10705
Description: 38 Unit Apartment building
Construction: Pre-War Masonry subject to the Rent Stabilization Laws
Closing Date: February 27th 2020
Selling Price: $5,050,000.00
Seller: 251 Warburton Ave LLC and 84-86 Hamilton Realty Partners LLC
Purchaser: GSB Hamilton LLC
Sellers Agent: Michael Nukho, Principal Broker of NuRealty Advisors Inc.
Purchasers Agent: Lukasz Przybylek, Associate Broker of NuRealty Advisors Inc.
The takeaway is that this transaction is a testament to the experience and professionalism that is applied to a tough market by the principals of NuRealty Advisors Inc., and the continuing interest in the City of Yonkers as a real estate Return on Investment (ROI) venue.