Updated May 21, 2025
Eduart Shllaku Acquires 88-Unit Multifamily Building In Unionport Bronx From Scharfman Organization For $9.7M
1265 Olmstead Avenue
$9,700,000
$104/SF
Building Size
92,666 SF
Asset Type
MultiFamily
Closing
Apr 29, 2025
About this deal
AI
A multifamily asset consisting of 88 units was sold at 1265 Olmstead Avenue, located in the Unionport neighborhood of Bronx. The property was acquired for $9,700,000, equating to $110,227 per unit and $105 per square foot. The total area of the building is 92,666 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,700,000
- Address: 1265 Olmstead Avenue
- Market: Unionport, Bronx
- Units: 88
- PPU: $110,227
- SF: 92,666
- PPSF: $105
- Buyer: Eduart Shllaku
- Seller: Mark Scharfman - Scharfman Organization
Eduart Shllaku, acting through Olmstead Avenue Realty LLC, executed the purchase of the 88-unit elevator building from the Scharfman Organization.
On the Map
$9,700,000
$104/SF
MultiFamily
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Bronx MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93