Updated Oct 29, 2024
Heritage Affordable Communities Acquires Multifamily Property In Bronx For $10.8M
1971 Webster Ave, Bronx, NY, USA
$10,800,000
$128/SF
Building Size
83,838 SF
Asset Type
MultiFamily
Closing
Jan 10, 2021
About this deal
AI
The Multifamily (Affordable Housing) property located at 1971 Webster Ave in Bronx, has been sold. The property was sold by MacQuesten Development to Heritage Affordable Communities. The sale took place on 01/11/2021 for a total price of $10,800,000.
Summary of transation details
- Property Type: Multifamily (Affordable Housing)
- Transaction Amount: $10,800,000
- Address: 1971 Webster Ave
- Market: Bronx
The property spans across 83,838 square feet, with a price per square foot of $128. It consists of 70 units, with an average price per unit of $154,285. The buyer in this transaction was Heritage Affordable Communities, while the seller was MacQuesten Development.
On the Map
$10,800,000
$128/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93