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1131 Forest Avenue

Sunrise Equities Acquires Bronx Multifamily Properties For $2.8M Loan
FINANCEDMultiFamily

Sunrise Equities Acquires Bronx Multifamily Properties For $2.8M Loan

1131 Forest Avenue

$2,812,000

Building Size

Asset Type

MultiFamily

Closing

Jun 17, 2021

AI

A multifamily property located at 1131 Forest Avenue, 3490 Eastchester Road, 1632 Taylor Avenue, and 1041 Lowell Street in the Bronx has been involved in a closed transaction. The property is situated in the Bronx market and falls under the asset type of multifamily.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,812,000
  • Address: 1131 Forest Avenue, 3490 Eastchester Road, 1632 Taylor Avenue, and 1041 Lowell Street
  • Market: Bronx

The property is owned by Eddie Sachar and Neer Sachar of Sunrise Equities, who actively seek value add multifamily and mixed-use properties throughout the New York Metro area. For potential deals, brokers can contact Neer directly at [email protected] or (516)776-3195.

Players

Neer Sachar

Sunrise Equities

Landlord

$18.1M

vol

13 deals

Landlord
SE
Sunrise EquitiesLandlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.64%

Cash-on-Cash

-1.61%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93