Updated Dec 18, 2023
Dr Dhiren Mehta Acquires 17-Unit Multi Family Property At 1130 Union Avenue, Bronx For $1.875M With Financing From Chase
1130 Union Ave, The Bronx, NY 10459, USA
$1,875,000
$468/SF
Building Size
4,000 SF
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
The multi-family property located at 1130 Union Avenue in the Bronx, New York has been sold in a closed transaction. The property consists of 17 units and was purchased by Dr Dhiren Mehta. The transaction was facilitated by broker Simon Rosenfeld.
Summary of transaction details:
- Property Type: Multi Family
- Transaction Amount: $1,875,000
- Lender: Chase
- Landlord: Dr Dhiren Mehta
- Broker: Simon Rosenfeld
- Loan Terms: 4.4% for 10 years fixed
The deal involved the lender Chase providing a loan amount of $1,875,000 at a fixed interest rate of 4.4% for a term of 10 years. Dr Dhiren Mehta acted as the landlord in the transaction, while Simon Rosenfeld represented the buyer as a broker.
On the Map
$1,875,000
$468/SF
MultiFamily
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Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.46%
Cash-on-Cash
-2.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93