The Perlleshi Family Acquires Multifamily Property In Pelham Bay For $4.8M
SOLD
$4,800,000
New York
See Similar DealsMultiFamily22,968 SF
Sold 03/17/2021
SOLD
The Perlleshi Family Acquires Multifamily Property In Pelham Bay For $4.8M
1580 Edison Avenue, Pelham Bay, The Bronx, NY, USA
See Similar DealsMultiFamily22,968 SF
Sold 03/17/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$209
Total Square Footage:22,968 SF
Transaction Type:Sale
The multifamily property located at 1580 Edison Avenue in Pelham Bay has been sold in a recent transaction. The property is zoned as R4A and encompasses a total of 5,400 square feet. It boasts a gross rent multiplier (GRM) of 10.1x and a capitalization rate (CAP) of 6.5%. The sale price for this property was $4,800,000, with a price per square foot (PPSF) of $208.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,800,000
- Address: 1580 Edison Avenue, Pelham Bay
- Market: Pelham Bay
- Zoning: R4A
The buyer of the property is the Perlleshi Family, while the seller is the Hofer Family. The deal was facilitated by brokers Lev Mavashev and Yehuda Leser from Alpha Realty NY.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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