Ariel Property Advisors Brokers $107.5M Sale Of Multifamily & Development Site In Morrisania, High Bridge & Belmont
280 East 161st Street
$107,500,000
$195/SF
Building Size
551,320 SF
Asset Type
Development Site
Closing
Sep 12, 2022
AI
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
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93