Mendel Kaff Acquires Multifamily Portfolio In Unionport & West Farms For $169M
SOLD
$169,000,000
New York
See Similar DealsMultiFamily602,926 SF
Sold 06/21/2022
SOLD
Mendel Kaff Acquires Multifamily Portfolio In Unionport & West Farms For $169M
2001 Story Avenue, The Bronx, New York 10473, United States
See Similar DealsMultiFamily602,926 SF
Sold 06/21/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$280
Total Square Footage:602,926 SF
Transaction Type:Sale
Located at 2001 Story Avenue & 883 East 180th Street, in the Unionport & West Farms market, a multifamily property was recently sold. The transaction took place on 06/21/2022, with Mendel Kaff as the buyer and FBE Limited as the seller.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $169,000,000
- Units: 555
- Price Per Unit (PPU): $304,504
- Square Footage (SF): 602,926
- Price Per Square Foot (PPSF): $280
The sale price for this multifamily property was $169,000,000. The property consists of 555 units, resulting in a price per unit (PPU) of $304,504. With a total square footage of 602,926, the price per square foot (PPSF) amounts to $280.
Mendel Kaff represented the buyer in this transaction, while FBE Limited acted as the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$600,421.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$801,146.22
Annual Debt Service$9,613,754.64
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