Yechiel Weinberger & Eric Miller Acquire North Bronx Multifamily Portfolio For $23M
SOLD
$23,000,000
New York
See Similar DealsMultiFamily522,492 SF
Sold 08/19/2022
SOLD
Yechiel Weinberger & Eric Miller Acquire North Bronx Multifamily Portfolio For $23M
2206 Holland Avenue, 730 East 236th Street & 2260 Bronx Park East
See Similar DealsMultiFamily522,492 SF
Sold 08/19/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$44
Total Square Footage:522,492 SF
Transaction Type:Sale
A 3-building multifamily portfolio located at 2206 Holland Avenue, 730 East 236th Street, and 2260 Bronx Park East in North Bronx, Bronx has been sold in a recent transaction. The portfolio includes a total of 180 units with a sale price of $23,000,000. The price per unit was approximately $127,777, and the total square footage of the properties is 174,164. The price per square foot was around $132.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Units: 180
- Price per Unit: $127,777
- Total Square Footage: 174,164
- Price per Square Foot: $132
The buyers of the portfolio were Yechiel Weinberger and Eric Miller. The transaction was facilitated by the brokers Seth Glasser, Mike Fusco, and Benny Katz from Marcus & Millichap. These brokers represented the buyers in the deal.
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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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