Updated Dec 19, 2023
Richard T. Guarino & James McMahon Acquire Belmont Multifamily Package Deal For $1.87M
2487 Arthur Avenue, The Bronx, New York 10458, United States
$1,866,666
$491/SF
Building Size
3,800 SF
Asset Type
MultiFamily
Closing
Jan 19, 2022
About this deal
AI
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.
On the Map
$1,866,666
$491/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.50%
Cash-on-Cash
-2.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93