Meridian Investment Sales Acquires Multifamily Property In Mount Hope For $7.45M
SOLD
$7,450,000
New York
See Similar DealsMultiFamily66,300 SF
Sold 11/17/2021
SOLD
Meridian Investment Sales Acquires Multifamily Property In Mount Hope For $7.45M
1815 Monroe Avenue, Bronx, NY, USA
See Similar DealsMultiFamily66,300 SF
Sold 11/17/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$112
Total Square Footage:66,300 SF
Transaction Type:Sale
An apartment complex located at 1815 Monroe Avenue in Mount Hope has been sold for $7,450,000. The multifamily property consists of 67 units with a total square footage of 66,300. The transaction took place on November 17, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,450,000
- Units: 67
- Square Footage: 66,300
- Address: 1815 Monroe Avenue
- Market: Mount Hope
The sale of this apartment complex was brokered by Amit Doshi and Shallini Mehra from Meridian Investment Sales, along with Samuel Salamon. They represented the parties involved in the transaction. No additional information about the deal is available at this time.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$397,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,468.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,316.80
Annual Debt Service$423,801.61
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