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171 Lincoln Avenue

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

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

171 Lincoln Avenue

$7,000,000

$391/SF

Building Size

17,904 SF

Asset Type

MultiFamily

Closing

Jan 25, 2023

AI

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

Valon Nikci

Link NY Realty

Broker

$30.7M

vol

8 deals

Broker

Angie Ortega

Seller

$7M

vol

2 deals

Seller

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93