Prana Investments Acquires Parkchester Multifamily In $9.01M Deal
2109 Gleason Avenue, The Bronx, NY, USA
$9,010,000
$204/SF
Building Size
44,097 SF
Asset Type
MultiFamily
Closing
Nov 22, 2020
AI
A multifamily property located at 2109 Gleason Avenue and 663 Crescent Ave in the Parkchester and Little Italy neighborhoods of the Bronx has been sold for a total price of $9,010,000. The property consists of two separate buildings.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,010,000
- Square Footage: 26,235 (2109 Gleason Ave.), 17,862 (663 Crescent Ave.)
- Price Per Square Foot: $151 (2109 Gleason Ave.), $283 (663 Crescent Ave.)
- Market: Parkchester, Little Italy (Bronx)
The buyer of the property is Prana Investments, while the seller is Steve Satz. The transaction was facilitated by Timour Shafran from itiCore.
2109 Gleason Ave. was sold for $3.96 million with a square footage of 26,235 and a price per square foot of $151. On the other hand, 663 Crescent Ave. was sold for $5.05 million with a square footage of 17,862 and a price per square foot of $283.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93