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Elvis Dushi Acquires 10-Unit Multifamily In Morris Park, Bronx For $1.58M

Property Image
SOLD
$1,580,000

New York

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MultiFamily7,350 SF
Sold 01/14/2021
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Property Image
SOLD

Elvis Dushi Acquires 10-Unit Multifamily In Morris Park, Bronx For $1.58M

1600 Tomlinson Avenue, East Bronx, Bronx, NY, USA

See Similar Deals
MultiFamily7,350 SF
Sold 01/14/2021
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$215
Total Square Footage:7,350 SF
Transaction Type:Sale

Located at 1600 Tomlinson Avenue in Morris Park, Bronx, this multifamily property is a closed transaction. The asset, consisting of 10 units, is 100% rent-stabilized. The property spans across 7,350 square feet, with a price per square foot of $214. The sale price for this transaction was $1,580,000, resulting in a per unit price of $158,000.

Summary of transaction details:

  • Property Type: Multifamily (100% RS)
  • Transaction Amount: $1,580,000
  • Units: 10
  • Price per Unit: $158,000
  • Square Footage: 7,350
  • Price per Square Foot: $214

Elvis Dushi acted as the buyer in this transaction, while Carolyn Traficante was the seller. The deal was facilitated by brokers Michael Fioravanti, Robert Shapiro, and Jonathan Squires from Team Shapiro_InvestmentSales and CushWake.

Players

Michael Fioravanti
15 deals$82.8M volume
BROKER

Robert (Rob) Shapiro
CBRE
78 deals$882.9M volume(212) 984-8082
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Details

SOLD
IMAGE: Robert Shapiro, Michael Fioravanti, Jonathan Squires DATE: 01/14/2021 ADDRESS: 1600 Tomlinson Avenue MARKET: Morris Park, Bronx ASSET TYPE: Multifamily (100% RS) BUYER: Elvis Dushi SELLER: Carolyn Traficante BROKERS: Michael Fioravanti, Robert Shapiro & Jonathan Squires @TeamShapiro_InvestmentSales @CushWake SALE PRICE: $1,580,000 UNITS: 10 ~ PPU: $158,000 SF: 7,350 ~ PPSF: $214

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$84,266.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,613.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,490.01
Annual Debt Service$89,880.07