ELH Management Acquires Property From Spencer Equity Group In Bronx For $107.5M
SOLD
$107,500,000
New York
See Similar DealsMultiFamily
Sold 12/21/2022
SOLD
ELH Management Acquires Property From Spencer Equity Group In Bronx For $107.5M
2363 Southern BLVD, Bronx, NY, 10460
See Similar DealsMultiFamily
Sold 12/21/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this transaction is located at 2363 Southern BLVD, Bronx, NY 10460. The transaction amount for this sale was $107,500,000.00, and it is situated in the Bronx market with a square footage of 0.
Summary of transaction details:
- Property Type: SALE
- Transaction Amount: $107,500,000.00
- Address: 2363 Southern BLVD, Bronx, NY, 10460
- Market: Bronx
- Seller: Spencer Equity Group
- Buyer: ELH Management
- Seller's Representatives: Jason Goldy-Meridian Capital Group, Daniel Mahfar-Ariel Property Advisors, Jason M. Gold-Ariel Property Advisors
Key individuals involved in this transaction include the seller, Spencer Equity Group, and the buyer, ELH Management. The deal was represented by multiple brokers, highlighting the collaborative effort in facilitating this transaction. Each representative played a role in negotiating the sale and managing the transition between the buyer and the seller.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,733,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$381,924.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$509,604.84
Annual Debt Service$6,115,258.13
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