Alex Hajibay's Heritage Affordable Communities Acquires Multifamily Property For $8.25M On Hughes Avenue In Tremont
SOLD
$8,250,000
New York
See Similar DealsMultiFamily59,587 SF
Sold 08/26/2021
SOLD
Alex Hajibay's Heritage Affordable Communities Acquires Multifamily Property For $8.25M On Hughes Avenue In Tremont
2120 Hughes Avenue, Tremont, Bronx, NY, USA
See Similar DealsMultiFamily59,587 SF
Sold 08/26/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$138
Total Square Footage:59,587 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$439,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,310.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,109.21
Annual Debt Service$469,310.51
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