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City Skyline Realty Acquires Multifamily Property In Kingsbridge For $9.7M

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SOLD
$9,700,000

New York

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MultiFamily615,000 SF
Sold 02/13/2020
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Property Image
SOLD

City Skyline Realty Acquires Multifamily Property In Kingsbridge For $9.7M

226 W 242nd St, The Bronx, NY 10471, USA

See Similar Deals
MultiFamily615,000 SF
Sold 02/13/2020
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$15
Total Square Footage:615,000 SF
Transaction Type:Sale

The multifamily property located at 226 West 242nd Street in Kingsbridge has been sold in a closed transaction. The property spans 61,500 square feet and consists of 61 units. The transaction was completed for a total price of $9,700,000, resulting in a price per square foot of $157 and a price per unit of $158,852.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,700,000
  • Address: 226 West 242nd Street
  • Market: Kingsbridge
  • Size: 61,500 square feet
  • Price per square foot: $157
  • Number of units: 61
  • Price per unit: $158,852

City Skyline Realty, represented by Douglas Peterson, acted as the buyer in this transaction. On the seller's side, Riverdale Court Inc, represented by Dawn Pohl, facilitated the sale of the property.

Players

3 deals$45.1M volume
BUYER

Details

SOLD
IMAGE: 02/13/2020 ADDRESS: 226 West 242nd Street MARKET: Kingsbridge ASSET TYPE: Multifamily PRICE: $9,700,000 SF: 61,500 PPSF: $157 UNITS: 61 PPU: $158,852 BUYER: City Skyline Realty – Douglas Peterson SELLER: Riverdale Court Inc – Dawn Pohl

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
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