Updated Oct 28, 2024
Alex Hajibay's Heritage Affordable Communities Acquires Multifamily Property For $8.25M On Hughes Avenue In Tremont
2120 Hughes Avenue, Tremont, Bronx, NY, USA
$8,250,000
$138/SF
Building Size
59,587 SF
Asset Type
MultiFamily
Closing
Aug 25, 2021
About this deal
AI
The multifamily property located at 2120 Hughes Avenue in Tremont was recently sold for $8,250,000. The transaction took place on August 26, 2021. The property is situated in an R7-1 zoning area and spans 59,587 square feet. With a price per square foot of $138, the property offers 63 residential units, resulting in a price per unit of $130,952.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,250,000
- Address: 2120 Hughes Avenue
- Market: Tremont
- Zoning: R7-1
Alex Hajibay of Heritage Affordable Communities acted as the buyer in this deal. On the other side, MacQuesten Properties served as the seller in the transaction.
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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93