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Ariel Property Advisors Brokers $107.5M Sale Of Multifamily & Development Site In Morrisania, High Bridge & Belmont

Property Image
SOLD
$107,500,000
Evan Hirsch
Victor Sozio
Shimon Shkury
+ 2

New York

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Development Site551,320 SF
Sold 09/12/2022
the dealplayerscompscontact
Property Image
SOLD

Ariel Property Advisors Brokers $107.5M Sale Of Multifamily & Development Site In Morrisania, High Bridge & Belmont

280 East 161st Street

See Similar Deals
Development Site551,320 SF
Sold 09/12/2022
Evan Hirsch
Victor Sozio
Shimon Shkury
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$195
Total Square Footage:551,320 SF
Transaction Type:Sale

The property involved in this transaction is located at 280 East 161st St., 1105 Jerome Ave., 101-103 West 165th St., 1140 Woodycrest Ave., and 2363 Southern Blvd. in the Morrisania, High Bridge, and Belmont neighborhoods. It consists of a multifamily building and a development site.

Summary of transaction details

  • Property Type: Multifamily & Development Site
  • Transaction Amount: $107,500,000
  • Units: 477
  • Price Per Unit (PPU): $225,367
  • Square Footage (SF): 551,320
  • Price Per Square Foot (PPSF): $195

The deal was represented by Victor Sozio, Shimon Shkury, Daniel Mahfar, Jason M. Gold, and Evan Hirsch from Ariel Property Advisors.

Please note that there is no additional information available regarding this transaction.

Players

Daniel Mahfar
Ariel Property Advisors
Daniel Mahfar
42 deals$753M volume
BROKER
Jason M. Gold
Ariel Property Advisors
Jason M. Gold
59 deals$1B volume
BROKER
Shimon Shkury
Ariel Property Advisors
Shimon Shkury
55 deals$1.7B volume
BROKER
Victor Sozio
Ariel Property Advisors
Victor Sozio
111 deals$2.3B volume
BROKER
Evan Hirsch
Ariel Property Advisors
Evan Hirsch
6 deals$252.5M volume
BROKER

Details

SOLD
IMAGE: Victor Sozio, Shimon Shkury, Daniel Mahfar, Jason M. Gold & Evan Hirsch DATE: 12/09/2022 ADDRESS: 280 East 161st St., 1105 Jerome Ave., 101-103 West 165th St., 1140 Woodycrest Ave. & 2363 Southern Blvd. MARKET: Morrisania, High Bridge & Belmont ASSET TYPE: Multifamily & Development Site BROKERS: Victor Sozio, Shimon Shkury, Daniel Mahfar (@DMahfar_Real_Estate), Jason M. Gold (@JGold_Real_Estate) & Evan Hirsch - Ariel Property Advisors (@ArielPA.NYC) SALE PRICE: $107,500,000 UNITS: 477 ~ PPU: $225,367 SF: 551,320 ~ PPSF: $195

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$381,924.81
Cash-on-Cash Return-1.27%
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