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Edmund Geisinger Sells Bronx Multifamily Asset For $3.9M With Brokers Seth Glasser & Michael Fusco

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SOLD
$3,900,000

New York

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MultiFamily54,200 SF
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SOLD

Edmund Geisinger Sells Bronx Multifamily Asset For $3.9M With Brokers Seth Glasser & Michael Fusco

220 Miriam Street

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MultiFamily54,200 SF
Sold
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$72
Total Square Footage:54200 SF
Transaction Type:Sale

The asset involved in the transaction is a multifamily property located at 220 Miriam Street in the Bronx. The sale was completed for a total price of $3,900,000, encompassing 54 units across a total square footage of 54,200. The price per unit stands at $72,222, while the price per square foot is calculated at $71.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,900,000
  • Units: 54
  • Square Footage: 54,200
  • Price Per Unit: $72,222
  • Price Per Square Foot: $71
  • Seller: Edmund Geisinger
  • Brokers: Seth Glasser & Michael Fusco - Marcus & Millichap
  • Date of Sale: 7/25/2025

Seth Glasser and Michael Fusco represented the seller in this transaction under the agency Marcus & Millichap. Their involvement highlights the brokerage's role in facilitating the sale of this multifamily asset in the Bronx market.

Players

Michael (Mike) Fusco
84 deals$568.3M volume(973) 865-6303
BROKER

Seth Glasser
Marcus & Millichap
118 deals$1.1B volume
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Seth Glasser & Michael Fusco DATE: 7/25/2025 ADDRESS: 220 Miriam Street MARKET: Bronx ASSET TYPE: Multifamily SELLER: Edmund Geisinger BROKERS: Seth Glasser (@SethGlasser1) & Michael Fusco (@Mike_Fusco_NYM) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $3,900,000 UNITS: 54 ~ PPU: $72,222 SF: 54,200 ~ PPSF: $71

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88