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Atlas Realty Group Partners Acquires Special Purpose Property In Morris Heights For $25.5M

Property Image
SOLD
$25,500,000
Yosef Katz
Shlomo Antebi
Erik Yankelovich

New York

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22,000 SF
Sold 03/30/2022
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Property Image
SOLD

Atlas Realty Group Partners Acquires Special Purpose Property In Morris Heights For $25.5M

1851 Phelan Place, The Bronx, New York 10453, United States

See Similar Deals
22,000 SF
Sold 03/30/2022
Yosef Katz
Shlomo Antebi
Erik Yankelovich
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Price Per Square Foot:$1,159
Total Square Footage:22,000 SF
Transaction Type:Sale

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

Erik Yankelovich
Atlas Realty Group
Erik Yankelovich
128 deals$1.1B volume
BROKER
Yosef Katz
Atlas Realty Group
Yosef Katz
134 deals$1.1B volume
BROKER
Shlomo Antebi
Atlas Realty Group
Shlomo Antebi
139 deals$1B volume
BROKER

Details

SOLD
IMAGE: Shlomo Antebi, Yosef Katz & Erik Yankelovich DATE: 03/30/2022 ADDRESS: 1851 Phelan Pl. MARKET: Morris Heights ASSET TYPE: Special Purpose BROKERS: Yosef Katz (@Katz.Yosef), Erik Yankelovich (@ErikY79) & Shlomo Antebi - Atlas Realty Group Partners LLC SALE PRICE: $25,500,000 SF: 22,000 ~ PPSF: $1,159

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,360,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11