Yechiel Weinberger & Eric Miller Acquire North Bronx Multifamily Portfolio For $23M
SOLD
$23,000,000
+ 1
New York
See Similar DealsMultiFamily59,796 SF
Sold 08/19/2022
SOLD
Yechiel Weinberger & Eric Miller Acquire North Bronx Multifamily Portfolio For $23M
2206 Holland Avenue, The Bronx, New York 10467, United States
See Similar DealsMultiFamily59,796 SF
Sold 08/19/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$384
Total Square Footage:59,796 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,226,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81
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