Stuart Morgan Purchases Multifamily Property At 1562 Thieriot Ave Bronx For $10.55M
SOLD
$10,550,000
New York
See Similar DealsMultiFamily220,000 SF
Sold 06/09/2014
SOLD
Stuart Morgan Purchases Multifamily Property At 1562 Thieriot Ave Bronx For $10.55M
1562 Thieriot Ave & 1580 Thieriot Ave
See Similar DealsMultiFamily220,000 SF
Sold 06/09/2014
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$48
Total Square Footage:220,000 SF
Transaction Type:Sale
The asset involved in this transaction is a MultiFamily property located at 1562 Thieriot Ave in the Bronx. The property was sold for $10,550,000.00, with a total square footage of 110,000.0.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $10,550,000.00
- Address: 1562 Thieriot Ave
- Market: Bronx
- Square Footage: 110,000.0
- Broker: Michael Ferrara - Brax Realty
- Buyer: Stuart Morgan
This transaction features Michael Ferrara representing the buyer, Stuart Morgan, in the deal. The sale occurred on 06/09/2014, marking a significant addition to the Bronx's MultiFamily market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$562,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,481.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,012.38
Annual Debt Service$600,148.59
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