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.
On the Map
$8,250,000
$138/SF
MultiFamily
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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