Q2 2012 Westchester, New York Apartment Property Sales Analysis

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Q2 2012 Westchester, New York Apartment Property Sales Analysis


There were two small apartment investment sales in the second quarter as well, for $9.9 million at a mean price of $71,000 per unit. The rolling 12 month cap rate for five sales is 6.1%, similar to past readings. In the larger of the two sales, Sagamore Fund 1 LLC sold the 84-unit Regent Gardens Apartments in Port Chester to Ucf Regent Park LLC in May for $7.0 million ($83,333 per unit).