Good News Manhattan Church Acquires Mixed-Use Property On Lincoln Avenue, Bronx For $7M
SOLD
New York
See Similar DealsMultiFamily17,904 SF
Sold 01/25/2023
SOLD
Good News Manhattan Church Acquires Mixed-Use Property On Lincoln Avenue, Bronx For $7M
171 Lincoln Avenue
See Similar DealsMultiFamily17,904 SF
Sold 01/25/2023
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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