Mendel Kaff Acquires Multifamily Property In Soundview For $4.7M
SOLD
$4,700,000
New York
See Similar DealsMultiFamily52,800 SF
Sold 12/16/2020
SOLD
Mendel Kaff Acquires Multifamily Property In Soundview For $4.7M
1466 Watson Avenue, East Bronx, The Bronx, NY, USA
See Similar DealsMultiFamily52,800 SF
Sold 12/16/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$89
Total Square Footage:52,800 SF
Transaction Type:Sale
The multifamily property located at 1466-1472 Watson Ave. in Soundview was recently sold for $4,700,000. The property spans a total of 52,800 square feet, resulting in a price per square foot of $89. The sale was completed on December 16, 2020, and the buyer was Mendel Kaff. The seller in this transaction was Related Companies.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,700,000
- Address: 1466-1472 Watson Ave.
- Market: Soundview
- Asset Type: Multifamily
- Zoning: R6
Seth Blau, Stephen Ross, and Jeff Blau were the individuals associated with the property transaction, as depicted in the accompanying image. They represent the seller, Related Companies, in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$250,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,698.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,280.40
Annual Debt Service$267,364.77
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