Retail Condo Case Study
Sutton Equity acquired the retail-condo located at 65 Nassau St., in NYC's emerging FiDi district in April of 2014. Sutton worked to reposition the condo from 50% collections and 50%-leased, to 100% on both accounts.
2.32X
Rent Roll increased from $31K/Mo to $72K/Mo
1.98X
NOI Increased from $321K to $650K
80%
Initial Equity returned within 2-Years
16.79%
Annualized Cash on Cash yield since acquisition
1609 Alton Road
Mixed-Use - Miami Beach
Sutton Equity acquired 1609 Alton Road in Miami Beach, FL in 2016. Shortly after acquiring the property, Sutton executed long term leases for the property, increasing the Rent Roll from $33K/Mo to $57K/Mo.
1.72X
Increased Rent Roll from $33,000 to $57,000 Per month.
100%
Secured long term leases with existing tenancy and no downtime.
1.85X
Increased NOI from $300,000 at acquisition to $600,000.
Securitized
Sutton secured a 10-Year, full term I/O loan with Morgan Stanley Smith Barney at a 4.07% rate.
Rose Gardens Apartments
Sutton Equity acquired Rose Gardens Apartments in 2019. A value-add strategy was implemented by renovating and upgrading the units and instituting leasing requirements, which were not previously in-place.
30.39%
Deal Level IRR
2.43X
Equity Multiple
53%
Increased Average Rents from $1,053/Mo to $1,619/Mo
Exit Yr 4
Sold Year 4 of Investment
