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1757 Topping Avenue, Tremon...

Updated Jan 30, 2024

Jonathan Fluker Acquires Mount Hope Multifamily For $2.775M With Stephen Siminou - Siminou & Associates P.C
SOLDMultiFamily

Jonathan Fluker Acquires Mount Hope Multifamily For $2.775M With Stephen Siminou - Siminou & Associates P.C

1757 Topping Avenue, Tremont, Bronx, NY, USA

$2,775,000

$198/SF

Building Size

14,000 SF

Asset Type

MultiFamily

Closing

Aug 15, 2021

About this deal

AI

Located in Mount Hope, the multifamily property at 1757 Topping Avenue was recently sold in a closed transaction. The deal was facilitated by buyer Jonathan Fluker and his representative Stephen Siminou from Siminou & Associates P.C. On the seller's side, Seth Glasser, Joe Koicim, and Mike Fusco, representing New York Multifamily and Marcus & Millichap, handled the transaction. The property, consisting of 18 units spread across 14,000 square feet, was sold for a price of $2,775,000, translating to a unit price of $154,000. The price per square foot was $198.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,775,000
  • Units: 18
  • Price per Unit: $154,000
  • Square Footage: 14,000
  • Price per Square Foot: $198
  • Address: 1757 Topping Avenue
  • Market: Mount Hope

It is worth noting that legal counsel for the transaction was provided by Siminou Law.

Players

Seth Glasser

Marcus & Millichap

Broker

$1.1B

vol

131 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $198 per square foot on a published $2.8M for 14,000 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.72%

Cash-on-Cash

-1.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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