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Seenauth Seecharran Sells Bronx Multifamily Property At 1163 Beach Avenue For $3 Million

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SOLD
$3,000,000

New York

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MultiFamily19,200 SF
Sold 09/26/2024
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Property Image
SOLD

Seenauth Seecharran Sells Bronx Multifamily Property At 1163 Beach Avenue For $3 Million

1163 Beach Avenue

See Similar Deals
MultiFamily19,200 SF
Sold 09/26/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$156
Total Square Footage:19,200 SF
Transaction Type:Sale

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:

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

Michael (Mike) Fusco
88 deals$576.1M volume(973) 865-6303
BROKER

Seth Glasser
Marcus & Millichap
125 deals$1.1B volume
BROKER

Benjamin (Ben) Myerow
Marcus & Millichap
7 deals$19.7M volume(212) 430-5183
BROKER

Details

SOLD
IMAGE: Benny Katz, Seth Glasser, Michael Fusco & Ben Myerow DATE: 09/26/2024 ADDRESS: 1163 Beach Avenue MARKET: Bronx ASSET TYPE: Multifamily SELLER: Seenauth Seecharran BROKERS: Seth Glasser (@SethGlasser1), Michael Fusco (@Mike_Fusco_NYM) & Ben Myerow - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $3,000,000 UNITS: 19 ~ PPU: $157,894 SF: 19,200 ~ PPSF: $156

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37