Rick Herman Acquires Multifamily Property In North Bronx For $7M
SOLD
$7,000,000
+ 1
New York
See Similar DealsMultiFamily51,165 SF
Sold 08/04/2020
SOLD
Rick Herman Acquires Multifamily Property In North Bronx For $7M
2105 Walton Avenue, Bronx, NY 10453
See Similar DealsMultiFamily51,165 SF
Sold 08/04/2020
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$136
Total Square Footage:51,165 SF
Transaction Type:Sale
Located at 2105 Walton Avenue in the North Bronx, this multifamily property was recently sold in a transaction facilitated by brokers Peter Von Der Ahe, Seth Glasser, and Michael Fusco from arcusMillichap_NY @NewYorkMultifamily. The sale took place on August 4th, 2020, with a purchase price of $7,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Square Footage: 51,165
- Price per Square Foot: $136
- Address: 2105 Walton Avenue
- Market: North Bronx
The buyer in this transaction was Rick Herman, while the seller was Martin Kirzner. The brokers involved, Peter Von Der Ahe, Seth Glasser, and Michael Fusco, represented the respective parties in the deal. No additional information was provided regarding financing or any potential notes related to the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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