Updated Dec 21, 2023
Zachary Hering Acquires Apartment In Mount Hope, Bronx For $19.75M
1988 Anthony Avenue, The Bronx, New York 10457, United States
$19,750,000
$468/SF
Building Size
42,180 SF
Asset Type
MultiFamily
Closing
Jun 14, 2022
About this deal
AI
The apartment building located at 1988 Anthony Ave in Mount Hope, Bronx has been sold for a price of $19,750,000. The property, zoned as R7-1, consists of a total of 42,677 square feet, with a price per square foot of $462. The building has a total area of 42,180 square feet, resulting in a price per square foot of $468. The lot size is approximately 12,406 square feet, with dimensions of 10 ft x 150 ft.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $19,750,000
- Address: 1988 Anthony Ave, Mount Hope, Bronx
- Zoning: R7-1
- Buyer: Zachary Hering
- Seller: Robert Lumaj
The transaction also involves the following additional information: the building's floor area ratio (FAR) is 3.40, and it is classified as tax class 2. The previous sale of the property was recorded on 03/01/2016, with a price of $850,000. A permit for alteration was issued on 10/18/2021.
On the Map
$19,750,000
$468/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Robert Lumaj to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93