Ved Parkash Acquires Multifamily Property In Tremont For $12.48M
SOLD
$12,480,000
New York
See Similar DealsMultiFamily933,490 SF
Sold 05/29/2020
SOLD
Ved Parkash Acquires Multifamily Property In Tremont For $12.48M
165 E 179th St, The Bronx, NY 10453, USA
See Similar DealsMultiFamily933,490 SF
Sold 05/29/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$13
Total Square Footage:933,490 SF
Transaction Type:Sale
The multifamily property located at 165 E. 179th St in the Tremont market has been sold for a price of $12,480,000. The property spans a total area of 93,349 square feet and has a price per square foot of $133. The transaction involved the sale of 83 units, with a price per unit of $150,602.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,480,000
- Address: 165 E. 179th St
- Market: Tremont
- Square Footage: 93,349
- Price per Square Foot: $133
- Number of Units: 83
- Price per Unit: $150,602
The seller of the property was Morgan Group, represented by Scott Morgan. The buyer of the property was Ved Parkash.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$665,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,338.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,161.57
Annual Debt Service$709,938.80
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