A pre-war multifamily building at 100 Highland Avenue located between Ludlow and Herriot Streets in Yonkers, New York was sold in an all cash transaction valued at $2,700,000.
This package of 116 cooperative apartments is located within a six-story elevator building which contains a total of 206 units. There are six elevators that service the building. The package consists of 54 one-bedroom units, 24 two-bedroom units, four three-bedroom units and 34 studio units. Additionally, there are 42 indoor parking spaces. The owner of the property, RAIT Financial Trust, sold the package to Alma Realty, a Long Island City based operator of multifamily buildings. The sale price equates to $85 per square foot or a cap rate of 8.6 percent.
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