Updated Oct 28, 2024
Neighborhood Restore Housing Development Fund Corporation Acquires Multifamily Property In Morrisania For $122M
1206 Westchester Avenue, Bronx, NY, USA
$122,000,000
$179/SF
Building Size
679,479 SF
Asset Type
MultiFamily
Closing
Jul 12, 2021
About this deal
AI
The multifamily property located at 1206 Westchester Avenue in Morrisania has been sold in a recent transaction. The property spans across 679,479 square feet and consists of 769 units. The sale price for this transaction was $122,000,000, resulting in a price per unit of $158,647. The price per square foot is calculated to be $179.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $122,000,000
- Address: 1206 Westchester Avenue
- Market: Morrisania
- Number of Units: 769
- Price per Unit: $158,647
- Total Square Footage: 679,479
- Price per Square Foot: $179
In this deal, the buyer was Neighborhood Restore Housing Development Fund Corporation, while the seller was Blackshore Realty Group.
Players
New York 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93