A&G auctions a portfolio of 12 multi-unit residential properties in New Rochelle, NY
NEW ROCHELLE, NY, January 24, 2022 /PRNewswire/ — A&G Real Estate Partners is auctioning a portfolio of 12 multi-family properties with a total of 30 units in New Rochelle – a rare opportunity given the tight supply of residential real estate in Westchester County.
The deadline for sealed bids for the auction is February 23. A&G Realty Brokerage, LLC is selling on behalf of a private seller.
Located within walking distance of Iona College, the 12 assets range in size from 1,600 to 8,000 square feet. They include 10 two-unit houses, as well as one three-unit apartment building and one seven-unit apartment building. Lot sizes range from 3,485 to 12,197 square feet.
“Terms are flexible, so investors can acquire one, several, or all of these sound residential assets at auction,” noted Emilio Amendola, co-chairman of A&G. “A buyer could easily live in one unit and rent out the others, and having these 12 assets close to each other makes property management more efficient.”
The portfolio, which is 100% leased by May 2022, has a strong revenue-generating track record, A&G added Jeff Hubbard, Senior General Manager, Real Estate Sales. The portfolio’s annual gross income is currently close to $1.1 million.
“New Rochelle is the second largest city in Westchester County and the third most densely populated. The demand for residential housing in the market is strong, including among renters,” Hubbard noted. “The area also benefits from easy access to public transit and major arteries like I-95 and the Hutchinson River Parkway. Maximum travel time to manhattan on Metro-North trains is approximately 35 minutes.”
Virtual tours of properties are available after execution of a confidentiality agreement, which also provides access to an online due diligence room. Property inspections will be given to qualified bidders after the submission deadline. Following the inspections, if an auction is necessary, it will take place on 8 March.
For due diligence and other portfolio information, visit www.agrep-sales.com/newrochelle or contact Jamie Cote, [email protected]agrep.com or Katie Decoste, [email protected].
About A&G Real Estate Partners
A&G is a team of seasoned commercial real estate professionals and subject matter experts who deliver strategies designed to generate the highest possible value for clients’ real estate. Key areas of expertise include real estate sales, occupancy cost reductions, lease terminations, disposals, real estate due diligence, valuations, acquisitions and facilitating growth opportunities. Using its marketing knowledge, reputation and cutting-edge technology, A&G has advised the country’s most prominent retailers and corporations in both healthy and distressed situations. The company’s team achieved rent reduction and occupancy cost savings approaching $8 billion on behalf of clients across all real estate sectors, while selling over $12 billion in non-core properties and leases. Global M&A Network named A&G “Real Estate Restructuring Firm of the Year” for its work in 2019 and 2020. Founded in 2012, A&G is headquartered in Melville, NY For more information, please visit: http://www.agrep.com/
Press contacts for A&G: Jaffe Communications (908-789-0700), Elisa Krantz, [email protected] Where Bill Parness, [email protected]
SOURCE A&G Real Estate Partners