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1065 Summit Ave, The Bronx,...

Doug Peterson Acquires Multifamily Property On Summit Avenue, Highbridge, Bronx For $2.9M
SOLDMultiFamily

Doug Peterson Acquires Multifamily Property On Summit Avenue, Highbridge, Bronx For $2.9M

1065 Summit Ave, The Bronx, NY 10452, USA

$2,925,000

$7/SF

Building Size

405,000 SF

Asset Type

MultiFamily

Closing

Jan 27, 2020

AI

A multifamily property located at 1065 Summit Avenue in Highbridge, Bronx has been sold for $2,925,000. The property spans a total of 40,500 square feet and consists of 26 units. The price per square foot is approximately $72, while the price per unit is $112,500.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,925,000
  • Address: 1065 Summit Avenue
  • Market: Highbridge, Bronx
  • Total Square Footage: 40,500
  • Number of Units: 26
  • Price per Square Foot: $72
  • Price per Unit: $112,500

The seller of the property is Izzy Kirzner, while the buyer is Doug Peterson. The deal was facilitated by brokers Peter Von Der Ahe, Seth Glasser, Michael Fusco, and Isaac Lipton of Marcus and [agency name].

Players

Michael Fusco

Marcus & Millichap

Broker

$576.1M

vol

88 deals

Broker

Doug Peterson

City Skyline Realty

Buyer

$25.3M

vol

4 deals

Buyer

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

5.42%

Cash-on-Cash

-1.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93