Seenauth Seecharran Sells Bronx Multifamily Property At 1163 Beach Avenue For $3 Million
1163 Beach Avenue
$3,000,000
$156/SF
Building Size
19,200 SF
Asset Type
MultiFamily
Closing
Sep 26, 2024
AI
The property involved in this transaction is a multifamily asset located at 1163 Beach Avenue in the Bronx market. The sale price was recorded at $3,000,000 for a total of 19 units, resulting in a price per unit of $157,894. The property encompasses a total square footage of 19,200, equating to a price per square foot of $156.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Units: 19
- Price Per Unit: $157,894
- Total Square Feet: 19,200
- Price Per Square Foot: $156
- Seller: Seenauth Seecharran
- Brokers: Seth Glasser, Michael Fusco & Ben Myerow - Marcus & Millichap
Key individuals involved in this transaction include Seenauth Seecharran as the seller, while the brokerage representation was provided by Seth Glasser, Michael Fusco, and Ben Myerow from Marcus & Millichap, highlighting their roles in the successful closure of this deal.
Players
Bronx 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93