Richard T. Guarino & James McMahon Acquire Belmont Multifamily Package Deal For $1.87M
SOLD
$1,866,666
New York
See Similar DealsMultiFamily3,800 SF
Sold 01/19/2022
SOLD
Richard T. Guarino & James McMahon Acquire Belmont Multifamily Package Deal For $1.87M
2487 Arthur Avenue, The Bronx, New York 10458, United States
See Similar DealsMultiFamily3,800 SF
Sold 01/19/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$491
Total Square Footage:3,800 SF
Transaction Type:Sale
The package deal consisting of two multifamily properties located at 2487 Arthur Avenue and 2528 Hughes Ave in Belmont has been sold for a total of $1,866,666. The properties have a combined square footage of 3,800, resulting in a price per square foot of $491. This transaction took place on January 19, 2022.
Summary of transaction details:
- Property Type: Package Deal (Multifamily)
- Transaction Amount: $1,866,666
- Market: Belmont
- Zoning: R6
- Buyer's Representative: Richard T. Guarino - Friedman-Roth
- Seller's Representative: James McMahon - Friedman-Roth
Richard T. Guarino from Friedman-Roth represented the buyer in this deal, while James McMahon, also from Friedman-Roth, represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$99,555.52
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,631.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,848.95
Annual Debt Service$106,187.39
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