Updated Oct 14, 2026
Dino Tomassetti Acquires Multifamily Property In Bronx With $14.5M Construction Loan
3160 Villa Avenue, The Bronx, NY, USA
$14,525,000
$2,252/SF
Building Size
6,448 SF
Asset Type
MultiFamily
Closing
Feb 4, 2021
About this deal
AI
An investor has secured a construction loan for a multifamily property located at 3160-3166 Villa Avenue in the Bronx. The property consists of 66 units and is owned by Dino Tomassetti from Asset Realty & Construction Group.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $14,525,000
- Address: 3160-3166 Villa Avenue
- Market: Bronx
- Lender: Investors Bank
- Landlord: Dino Tomassetti - Asset Realty & Construction Group
- Broker: Kathy Anderson - Progress Capital
The loan, provided by Investors Bank, is a construction loan with a 24-month interest-only period. The loan offers the option for permanent conversion for the multifamily property.
On the Map
$14,525,000
$2,252/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93