Marina Court | 422 E Boston Post Rd
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Marina Court 422 E Boston Post Rd
14 Unit Apartment Building $13,000,000 ($928,571/Unit) Mamaroneck, NY 10543
Investment Highlights
- Stable Income & High Occupancy
- Appeal of the Surrounding Area
- Luxury Apartment Units with High-Quality Amenities
Executive Summary
We are pleased to present the opportunity to purchase Marina Court located at 422 East Boston Post Road in Mamaroneck, New York for $13,000,000.
Built in 2017, Marina Court is a 13-unit luxury apartment building comprised of two affordable units, seven 2-bedroom units, ranging in size from 1,066 SF to 1,466 SF, a 1,566 SF 2-bedroom plus den unit, a 2,321 SF 3-bedroom duplex unit, and two 3-bedroom penthouse units. The condominium-like units feature high-quality finishes in the kitchens and bathrooms, spacious primary bedrooms with walk-in closets, along with private balconies in most units, and the penthouse units feature two balconies, a gas fireplace, 10’ ceilings, interior stairwells, and direct water views. All units have oversized windows and at least two exterior facing exposures. The building has covered parking (11 spaces), two electric car charging stations, indoor bike storage, a pet washing station, a fully equipped fitness center with a Peloton bike, an outdoor grilling station and a rooftop terrace overlooking Long Island Sound and Harbor Island Park. Marina Court has historically high occupancy with limited turnover and consistent rent growth.
Marina Court is situated within the Village of Mamaroneck and the Rye Neck School District. The Property is also conveniently located a short distance from Mamaroneck Avenue—a “restaurant row” boasting a wide variety of dining options including casual pizza shops like Sal’s Pizza, fast casual concepts like Smashburger, a cozy French bistro, authentic Chinese, and many other options, as well as upscale shops. Marina Court is a short 5-minute walk from Harbor Island Park, a 44-acre public park, beach and marina.
Marina Court is located within a 10-minute walk from the Mamaroneck Metro-North Train Station, which provides a 39-minute express ride to Grand Central Terminal and is a short 1.2-mile drive from Interstate 95 (Exits 18A & B).
Built in 2017, Marina Court is a 13-unit luxury apartment building comprised of two affordable units, seven 2-bedroom units, ranging in size from 1,066 SF to 1,466 SF, a 1,566 SF 2-bedroom plus den unit, a 2,321 SF 3-bedroom duplex unit, and two 3-bedroom penthouse units. The condominium-like units feature high-quality finishes in the kitchens and bathrooms, spacious primary bedrooms with walk-in closets, along with private balconies in most units, and the penthouse units feature two balconies, a gas fireplace, 10’ ceilings, interior stairwells, and direct water views. All units have oversized windows and at least two exterior facing exposures. The building has covered parking (11 spaces), two electric car charging stations, indoor bike storage, a pet washing station, a fully equipped fitness center with a Peloton bike, an outdoor grilling station and a rooftop terrace overlooking Long Island Sound and Harbor Island Park. Marina Court has historically high occupancy with limited turnover and consistent rent growth.
Marina Court is situated within the Village of Mamaroneck and the Rye Neck School District. The Property is also conveniently located a short distance from Mamaroneck Avenue—a “restaurant row” boasting a wide variety of dining options including casual pizza shops like Sal’s Pizza, fast casual concepts like Smashburger, a cozy French bistro, authentic Chinese, and many other options, as well as upscale shops. Marina Court is a short 5-minute walk from Harbor Island Park, a 44-acre public park, beach and marina.
Marina Court is located within a 10-minute walk from the Mamaroneck Metro-North Train Station, which provides a 39-minute express ride to Grand Central Terminal and is a short 1.2-mile drive from Interstate 95 (Exits 18A & B).
Property Facts
| Price | $13,000,000 | Lot Size | 0.55 AC |
| Price Per Unit | $928,571 | Building Size | 19,054 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2017 |
| Property Subtype | Apartment | Parking Ratio | 1.15/1,000 SF |
| Building Class | B |
| Price | $13,000,000 |
| Price Per Unit | $928,571 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.55 AC |
| Building Size | 19,054 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2017 |
| Parking Ratio | 1.15/1,000 SF |
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 850 |
| 2+1 | 2 | - | 1,066 - 1,466 |
| 2+2 | 6 | - | 1,346 - 1,566 |
| 2+3 | 1 | - | 1,071 |
| 3+2.5 | 1 | - | 2,047 - 2,407 |
| 3+3 | 3 | - | 2,047 - 2,362 |
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Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 4803-154-000-00050-001-0066-0000000 | Improvements Assessment | $2,934,600 |
| Land Assessment | $992,000 | Total Assessment | $3,926,600 |
PROPERTY TAXES
Parcel Number
4803-154-000-00050-001-0066-0000000
Land Assessment
$992,000
Improvements Assessment
$2,934,600
Total Assessment
$3,926,600
zoning
| Zoning Code | C-1 (General Commercial) |
| C-1 (General Commercial) |
Contacts
-
Al Mirin -
William Eisenhut -
Kate Schwartz -
Matthew Torrance -
Cushman & Wakefield
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Marina Court | 422 E Boston Post Rd
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