Updated Dec 4, 2023
Andrew Lichtenstein - LichtensteinRE Sells Multifamily Property In New York City For $6.5M
2132 Mapes Ave Bronx, NY 10460, USA
$6,500,000
$392/SF
Building Size
16,544 SF
Asset Type
MultiFamily
Closing
Jul 28, 2023
About this deal
AI
The multifamily property located at 2132 Mapes Avenue & 885 Cauldwell Avenue in New York City has been sold for $6,500,000. The property consists of 21 units, with an average price per unit of $309,524. The total square footage of the property is 16,544, resulting in a price per square foot of $393. The sale was brokered by Andrew Lichtenstein of LichtensteinRE.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Units: 21
- Price per Unit: $309,524
- Total Square Footage: 16,544
- Price per Square Foot: $393
- Broker: Andrew Lichtenstein
Andrew Lichtenstein, representing LichtensteinRE, played a key role in facilitating the sale of the multifamily property at 2132 Mapes Avenue & 885 Cauldwell Avenue. With extensive experience in the real estate industry, Lichtenstein was able to negotiate a successful deal for all parties involved. This transaction highlights his expertise in the New York City market and his ability to secure a favorable price for the property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93