Chaim Cohen Acquires Multifamily Property In Fordham / Soundview For $18.4M
SOLD
$18,400,000
New York
See Similar DealsMultiFamily108,445 SF
Sold
SOLD
Chaim Cohen Acquires Multifamily Property In Fordham / Soundview For $18.4M
2240 Tiebout Ave #2242, The Bronx, NY 10457, USA
See Similar DealsMultiFamily108,445 SF
Sold
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$169
Total Square Footage:108445 SF
Transaction Type:Sale
The multifamily property located at 2240-2242 Tiebout Avenue and 1160 Evergreen Avenue in the Fordham/Soundview area was recently sold. The property consists of a total of 108,445 square feet and was sold for a sale price of $18,400,000, slightly below the asking price of $18,450,000. This translates to a price per square foot of $169.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $18,400,000
- Square Footage: 108,445
- Asking Price: $18,450,000
- Sale Price per Square Foot: $169
- Market: Fordham / Soundview
The seller of the property was the Milchman Family. On the buyer's side, Chaim Cohen acquired the property. Greg Corbin and Lynda Blumberg of Insert Agency Name represented both parties in the transaction.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$981,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,371.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,225.39
Annual Debt Service$1,046,704.65
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