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Saqif Noor Purchases Multifamily Property At 1643 & 1645 Popham Avenue For $5 Million

Property Image
SOLD
$5,000,000
Saqif Noor

New York

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MultiFamily15,225 SF
Sold 10/30/2020
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SOLD

Saqif Noor Purchases Multifamily Property At 1643 & 1645 Popham Avenue For $5 Million

1643 Popham Avenue, Bronx, NY 10453

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MultiFamily15,225 SF
Sold 10/30/2020
Saqif Noor
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$328
Total Square Footage:15,225 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 1643 & 1645 Popham Avenue in the Morris Heights neighborhood of the Bronx. The agreed sale price for this asset was $5,000,000. It boasts a building square footage of 17,200, leading to a price per building square foot of $290. In total, the property encompasses 15,225 square feet, translating to a price per square foot of $328. The property contains 18 units, resulting in a price per unit of $277,777. It falls under tax class 2B and has a zoning designation of R7-1.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,000,000
  • Address: 1643 & 1645 Popham Avenue
  • Market: Morris Heights, Bronx
  • Building Square Feet: 17,200
  • Price per Building Square Foot: $290
  • Square Feet: 15,225
  • Price per Square Foot: $328
  • Units: 18
  • Price per Unit: $277,777
  • Tax Class: 2B
  • Zoning: R7-1
  • Buyer: Saqif Noor
  • Seller: Gjek Popaj
  • Broker: Adam Traub @Curb_Capital

Key individuals involved in the transaction include the buyer, Saqif Noor, and the seller, Gjek Popaj. The broker representing the deal is Adam Traub from Curb Capital, indicating the professional mediation that facilitated this multifamily transaction.

Players

15 deals$68.9M volume
BROKER


Details

SOLD
IMAGE: Adam Traub & Saqif Noor DATE: 10/30/2020 ADDRESS: 1643 & 1645 Popham Avenue MARKET: Morris Heights, Bronx ~ ZONING: R7-1 ASSET TYPE: Multifamily BUYER: Saqif Noor SELLER: Gjek Popaj BROKER: Adam Traub @Curb_Capital PRICE: $5,000,000 BSF: 17,200 ~ PPBSF: $290 SF: 15,225 ~ PPSF: $328 UNITS: 18 ~ PPU: $277,777 TAX CLASS: 2B

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
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