Updated Dec 4, 2024
Cohen Family Acquires Multifamily In Bronx For $2.1M
1232 Fulton Avenue
$2,100,000
$307/SF
Building Size
6,838 SF
Asset Type
MultiFamily
Closing
Jun 13, 2024
About this deal
AI
Located at 1232 Fulton Avenue in Bronx, this multifamily property spans 6,838 square feet and comprises 8 units. The property was recently sold for $2,100,000, equating to $307 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Units: 8
- Price per Unit: $262,500
- Square Footage: 6,838
- Market: Bronx
- Buyer: Cohen Family
- Seller: Lumaj Family
- Brokers: Jacob Stavsky - Stav Equities LLC; Reuben Lugassy & Avraham Birnbaum - Twelve Stones Realty
The sale of this multifamily property at 1232 Fulton Avenue was facilitated by the brokers Jacob Stavsky from Stav Equities LLC, and Reuben Lugassy & Avraham Birnbaum from Twelve Stones Realty. The transaction brought together the Cohen Family as the buyers and the Lumaj Family as the sellers, showcasing a successful deal in the Bronx market.
On the Map
$2,100,000
$307/SF
MultiFamily
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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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93