Atlas Realty Group Partners Acquires Special Purpose Property In Morris Heights For $25.5M
1851 Phelan Place, The Bronx, New York 10453, United States
$25,500,000
$1,159/SF
Building Size
22,000 SF
Asset Type
—
Closing
Mar 29, 2022
About this deal
AI
The special purpose property located at 1851 Phelan Pl in Morris Heights has been sold in a closed transaction. The deal was facilitated by brokers Yosef Katz, Erik Yankelovich, and Shlomo Antebi of Atlas Realty Group Partners LLC. The property spans 22,000 square feet and was sold for a total price of $25,500,000, resulting in a price per square foot of $1,159.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $25,500,000
- Address: 1851 Phelan Pl
- Market: Morris Heights
The sale of 1851 Phelan Pl was facilitated by Yosef Katz, Erik Yankelovich, and Shlomo Antebi from Atlas Realty Group Partners LLC. Their expertise in the real estate market and their role as representatives in this transaction were invaluable in closing the deal.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93