Updated Sep 9, 2024
Marcus & Millichap And Friedman-Roth Realty Sell New York City Multifamily Property On Gerard Avenue For $6.67M
1265 Gerard Ave Bronx, NY 10452, USA
$6,675,000
$98/SF
Building Size
67,724 SF
Asset Type
MultiFamily
Closing
Jun 8, 2023
About this deal
AI
The multifamily property located at 1265 Gerard Avenue in New York City has been sold in a closed transaction. The property consists of 58 units, with an average price per unit of $115,086. The total square footage of the property is 67,724, with a price per square foot of $99. The sale price for this transaction was $6,675,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,675,000
- Number of Units: 58
- Price per Unit: $115,086
- Total Square Footage: 67,724
- Price per Square Foot: $99
The sale of this property was facilitated by the brokers Seth Glasser, Michael Fusco, and Benny Katz from Marcus & Millichap, along with Richard Guarino from Friedman-Roth Realty. They represented the parties involved in the transaction.
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
2.38%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93