Updated Dec 12, 2024
LAL Property Management Acquires Multi Family Portfolio In Bronx For $25M
213 W 238th St #217, The Bronx, NY 10463, USA
Building Size
45,000 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
The property involved in this closed transaction is a multi-family asset located at 213-217 West 238th Street and 3804-3808 Bailey Avenue in New York City's Bronx market. The property spans a total of 45,000 square feet and was sold for a total price of $25,000,000, with each unit priced at $12.5 million. The price per square foot for this transaction was $277.78.
Summary of transaction details:
- Property Type: Multi Family
- Transaction Amount: $25,000,000
- Address: 213-217 West 238th Street and 3804-3808 Bailey Avenue
- Market: Bronx
- Price per Square Foot: $277.78
The seller of this property was The Related Companies, represented by Stephen Ross and Jeff Blau. The buyer in this transaction was LAL Property Management.
Players
Bronx 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93