Updated Sep 5, 2024
Victor Sozio & Shimon Shkury Of Ariel Property Advisors Broker $39.3M Sale Of Multifamily Properties In Bronx & Harlem
1011 Washington Ave Bronx, Ny 10465, Usa
$39,333,000
$137/SF
Building Size
287,000 SF
Asset Type
MultiFamily
Closing
Jun 5, 2023
About this deal
AI
The multifamily property located at 1011 Washington Avenue, 1090 Franklin Avenue, 349-359 Lenox Avenue, and 203, 205, 207, 209, 213, and 215 West 148th Street in the Bronx and Harlem markets was recently sold for a total price of $39,333,000. The property consists of 313 units, with an average price per unit of $125,665. It spans a total of 287,000 square feet, resulting in a price per square foot of $137.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,333,000
- Units: 313
- Price Per Unit: $125,665
- Square Feet: 287,000
- Price Per Square Foot: $137
The sale was facilitated by Victor Sozio and Shimon Shkury from Ariel Property Advisors.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93