Doug Peterson Acquires Multifamily Property On Summit Avenue, Highbridge, Bronx For $2.9M
SOLD
$2,925,000
+ 2
New York
See Similar DealsMultiFamily405,000 SF
Sold 01/28/2020
SOLD
Doug Peterson Acquires Multifamily Property On Summit Avenue, Highbridge, Bronx For $2.9M
1065 Summit Ave, The Bronx, NY 10452, USA
See Similar DealsMultiFamily405,000 SF
Sold 01/28/2020
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$7
Total Square Footage:405,000 SF
Transaction Type:Sale
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].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$156,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,391.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,865.99
Annual Debt Service$166,391.91
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