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2206 Holland Avenue, The Br...

Yechiel Weinberger & Eric Miller Acquire North Bronx Multifamily Portfolio For $23M
SOLDMultiFamily

Yechiel Weinberger & Eric Miller Acquire North Bronx Multifamily Portfolio For $23M

2206 Holland Avenue, The Bronx, New York 10467, United States

$23,000,000

$384/SF

Building Size

59,796 SF

Asset Type

MultiFamily

Closing

Aug 18, 2022

AI

The 3-building portfolio located at 2206 Holland Avenue, 730 East 236th Street, and 2260 Bronx Park East in the North Bronx, Bronx, has been sold for a total of $23,000,000. The multifamily properties offer a combined total of 180 units, with an average price per unit of $127,777. The total square footage of the portfolio is 174,164, with an average price per square foot of $132.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $23,000,000
  • Address: 2206 Holland Avenue, 730 East 236th Street & 2260 Bronx Park East
  • Market: North Bronx, Bronx
  • Units: 180
  • Price per Unit: $127,777
  • Total Square Footage: 174,164
  • Price per Square Foot: $132

The buyers of the portfolio are Yechiel Weinberger and Eric Miller. The deal was facilitated by Seth Glasser, Mike Fusco, and Benny Katz from Marcus & Millichap.

Players

Michael Fusco

Marcus & Millichap

Broker

$576.1M

vol

88 deals

Broker

Eric Miller

Parkway Realty Associates

Buyer

$149.2M

vol

8 deals

Buyer

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

0.69%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93