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2295 Grand Concourse, The B...

Updated Dec 20, 2023

Atlas Realty Group Partners LLC Acquires Multifamily Property On Grand Concourse In Bronx For $5.5M
SOLDMultiFamily

Atlas Realty Group Partners LLC Acquires Multifamily Property On Grand Concourse In Bronx For $5.5M

2295 Grand Concourse, The Bronx, New York 10453, United States

$5,500,000

$184/SF

Building Size

29,800 SF

Asset Type

MultiFamily

Closing

Jan 18, 2022

About this deal

AI

Located in the Bronx, the multifamily property at 2295 Grand Concourse recently changed ownership in a closed transaction. The deal was facilitated by Shlomo Antebi, Yosef Katz, and Erik Yankelovich of Atlas Realty Group Partners LLC. The property consists of 31 units with a total square footage of 29,805. The sale price for this transaction was $5,500,000, resulting in a per unit price of $177,419 and a price per square foot of $184.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,500,000
  • Units: 31
  • Price per Unit: $177,419
  • Square Footage: 29,805
  • Price per Square Foot: $184
  • Market: Bronx

The successful completion of this deal was made possible by the efforts of Shlomo Antebi, Yosef Katz, and Erik Yankelovich of Atlas Realty Group Partners LLC as the brokers representing the parties involved. Their expertise and negotiation skills were crucial in ensuring a smooth transaction for all parties.

Players

Erik Yankelovich

Atlas Realty Group

Broker

$1.1B

vol

135 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $184 per square foot on a published $5.5M for 29,800 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.88%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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