Updated Sep 9, 2024
Meridian Capital Group Brokers $11.47M Sale Of Multifamily Property In Morris Heights, Bronx
1738 University Avenue, The Bronx, New York 10453, United States
$11,470,000
$171/SF
Building Size
67,000 SF
Asset Type
MultiFamily
Closing
Jan 27, 2022
About this deal
AI
Amit Doshi & Shallini Mehra of Meridian Capital Group represented the parties in the sale of a multifamily property located at 1738 University Avenue in Morris Heights, Bronx. The transaction was completed on January 28, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $11,470,000
- Address: 1738 University Avenue
- Market: Morris Heights, Bronx
- Units: 72
- Price per Unit: $159,305
- Square Footage: 67,000
- Price per Square Foot: $171
The property spans approximately 67,000 square feet and consists of 72 units. The sale price for this multifamily asset was recorded at $11,470,000, resulting in a price per unit of approximately $159,305. The transaction was completed in Morris Heights, Bronx, on January 28, 2022.
Players
New York 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
1.38%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93