Denali Management Acquires Multifamily Assets In Bronx For $9.018M With Casablanca Management As Seller
1355 Findlay Avenue, The Bronx, New York 10456, United States
$9,018,000
$161/SF
Building Size
56,000 SF
Asset Type
MultiFamily
Closing
May 1, 2022
AI
The multifamily property located at 1355 Findlay Ave, 1178 Washington Avenue, and 465 Washington Place in Bronx has been sold. The transaction took place on 05/02/2022.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $9,018,000
- Number of Units: 65
- Price per Unit: $138,738
- Square Footage: 56,000
- Price per Square Foot: $161
The buyer of the property was Denali Management, while the seller was Casablanca Management.
This transaction demonstrates the active real estate market in Bronx and the demand for multifamily properties. Denali Management's acquisition of this property positions them strategically in the market.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93