Updated Jan 30, 2024
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
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
5.72%
Cash-on-Cash
-1.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93