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Good News Manhattan Church Acquires Mixed-Use Property On Lincoln Avenue, Bronx For $7M

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SOLD
$7,000,000

New York

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MultiFamily17,904 SF
Sold 01/25/2023
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Property Image
SOLD

Good News Manhattan Church Acquires Mixed-Use Property On Lincoln Avenue, Bronx For $7M

171 Lincoln Avenue

See Similar Deals
MultiFamily17,904 SF
Sold 01/25/2023
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$391
Total Square Footage:17,904 SF
Transaction Type:Sale

The mixed-use property located at 171 Lincoln Avenue in Bronx has been sold in a recent transaction. The property spans across 17,904 square feet and includes a combination of residential and commercial spaces. The sale price for this transaction was $7,000,000, resulting in a price per square foot of $391.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $7,000,000
  • Address: 171 Lincoln Avenue
  • Market: Bronx
  • Square footage: 17,904

The buyer in this transaction is Good News Manhattan Church, while the seller is Angie Ortega. Valon Nikci from Link NY Realty represented both parties as the broker.

Players

VN
8 deals$30.7M volume(646) 321-9428
BROKER

2 deals$7M volume
SELLER

Details

SOLD
IMAGE: Valon Nikci DATE: 01/25/2023 ADDRESS: 171 Lincoln Avenue MARKET: Bronx ASSET TYPE: Mixed-Use BUYER: Good News Manhattan Church SELLER: Angie Ortega BROKER: Valon Nikci - Link NY Realty (@LinkNYRealty) SALE PRICE: $7,000,000 SF: 17,904 ~ PPSF: $391

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
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