Updated Oct 25, 2024
Neer Sachar Acquires Multifamily Property On Forest Avenue In Bronx For $485K
1131 Forest Ave, Staten Island, NY 10310, USA
$485,000
$15/SF
Building Size
30,550 SF
Asset Type
MultiFamily
Closing
Aug 27, 2020
About this deal
AI
1131 Forest Avenue is a multifamily property located in the historic Morris High School landmark district of Morrisania in the Bronx. This property was recently acquired through a bankruptcy auction. With a total square footage of 3,055, the property offers ample space for residents. The sale price for 1131 Forest Avenue was $485,000, resulting in a price per square foot of $158.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $485,000
- Address: 1131 Forest Avenue
- Market: Bronx
Neer Sachar was the buyer of 1131 Forest Avenue, while James Mcgown acted as the seller in this transaction.
It is worth mentioning that the property's acquisition was made possible through a bankruptcy auction. Neer Sachar, the buyer, plans on restoring and preserving this property located in the Morris High School landmark district of Morrisania.
On the Map
$485,000
$15/SF
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
32.71%
Cash-on-Cash
-9.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93