Updated Dec 21, 2023
Ariel Property Advisors Brokers $43M Multifamily Sale In Castle Hill, Bronx
1965 Lafayette Avenue
$43,000,000
$114/SF
Building Size
374,197 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
About this deal
AI
Located in the Castle Hill neighborhood of the Bronx, a multifamily property at 1965 Lafayette Avenue has been sold in a recent transaction. The deal was facilitated by Ariel Property Advisors, with brokers Victor Sozio, Shimon Shkury, Jason Gold, and Daniel Mahfar representing the parties involved.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $43,000,000
- Units: 353
- Price per Unit: $121,813
- Square Footage: 374,197
- Price per Square Foot: $114
The property boasts a total of 353 units with a price per unit averaging at $121,813. Spanning across 374,197 square feet, the property's price per square foot stands at $114.
Ariel Property Advisors played a pivotal role in brokering this transaction, with the team consisting of Victor Sozio, Shimon Shkury, Jason Gold, and Daniel Mahfar.
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93