Denali Management Acquires Multifamily Assets In Bronx For $9.018M With Casablanca Management As Seller
SOLD
$9,018,000
New York
See Similar DealsMultiFamily56,000 SF
Sold 05/02/2022
SOLD
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
See Similar DealsMultiFamily56,000 SF
Sold 05/02/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$161
Total Square Footage:56,000 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,960.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,039.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,749.92
Annual Debt Service$512,999.05
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