Chaim Cohen Acquires Multifamily Property In Bronx For $2.2M
1412 Franklin Avenue & 1359 Webster Avenue
$2,200,000
$55/SF
Building Size
39,376 SF
Asset Type
MultiFamily
Closing
Jun 20, 2024
AI
The multifamily property located at 1412 Franklin Avenue & 1359 Webster Avenue in Bronx was recently sold for $2,200,000. This property consists of 29 units, covering an area of 19,688 square feet. The price per unit equated to $75,862, with a price per square foot of $112.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Address: 1412 Franklin Avenue & 1359 Webster Avenue
- Market: Bronx
- Seller: Michael Black
- Buyer: Chaim Cohen
- Brokers: Aaron Jungreis, Ben Khakshoor & Reouven Elharar - Rosewood Realty Group
The sale was facilitated by brokers Aaron Jungreis, Ben Khakshoor, and Reouven Elharar from Rosewood Realty Group, representing the buyer and seller in this transaction.
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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93