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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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