Apartment building fetches $11m.
Sheldon - See also: Shelton
Sheldon may refer to: Places
- in the USA:
- Sheldon, Iowa
- Sheldon, Texas
- Sheldon, New York
- Sheldon, Monroe County, Wisconsin
- Sheldon, Vermont
- Sheldon, North Dakota
Good & Company Auctions has sold a 100% leased,
six-story, 71-unit pre-war The term pre-war is often used for the period before the outbreak of World War II, i.e. before 1939 or 1940. However, the term is usually applied to the most recent or significant war in a culture's history. apartment building with commercial space at
900 Riverside Drive A number of cities around the world have a Riverside Drive.
In the United States: - Riverside Drive (Anderson, California)
- Riverside Drive (Asotin County, Washington)
- Riverside Drive (Austin, Texas)
- Riverside Drive (Bandon, Oregon)
.
The property, auctioned April 6 and which closed on May 24, sold
for $11,024,000., a multiple of 14.7 times the annual rent and at a cap
rate of 4.5%. Built in 1921 at the corner of W. 161st Street, the
six-story, 92,000 s/f apartment building has 71 residential units and
commercial and retail space on the ground floors.
The property was offered with an opening bid of $5 million. The
property previously had never been offered conventionally. The seller
was a private partnership. The building had a gross operating income Operating Income
The profit realized from a business' own operations.
Notes:
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of
$747,709.
COPYRIGHT 2006 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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