SOLDHotel
Manny Chadha Acquires Soundview Hotel In Bronx For $5M
1162 Wheeler Avenue, The Bronx, New York 10472, United States
$5,000,000
$555,555/SF
Building Size
9 SF
Asset Type
Hotel
Closing
Apr 17, 2023
AI
The Hotel property at 1162 Wheeler Avenue in Soundview, Bronx has been sold for a total of $5,000,000. The transaction took place on October 28, 2022. The hotel has a total square footage of 9,916, resulting in a price per square foot of $504.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $5,000,000
- Address: 1162 Wheeler Avenue
- Market: Soundview, Bronx
The buyer of the property is Manny Chadha, while Osher Niyazov is the seller.
Players
Bronx Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93