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Barry Wagschal & Abe Garbo Of GW Equities Acquires Multifamily Property In University Heights, Bronx For $1M

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SOLD
$1,000,000

New York

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MultiFamily4,500 SF
Sold 01/17/2024
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Property Image
SOLD

Barry Wagschal & Abe Garbo Of GW Equities Acquires Multifamily Property In University Heights, Bronx For $1M

2516 Webb Avenue

See Similar Deals
MultiFamily4,500 SF
Sold 01/17/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$222
Total Square Footage:4,500 SF
Transaction Type:Sale

Located in University Heights, Bronx, the multifamily property at 2516 Webb Avenue has been sold in a closed transaction. The property consists of 3 units, offering a total of 4,500 square feet of space. The sale price for this transaction was $1,000,000, resulting in a price per unit of $333,333. The price per square foot was $222.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,000,000
  • Address: 2516 Webb Avenue
  • Market: University Heights, Bronx
  • Buyer: Barry Wagschal & Abe Garbo - GW Equities
  • Seller: Sinay Bustamante
  • Units: 3
  • Price per Unit: $333,333
  • Square Footage: 4,500
  • Price per Square Foot: $222

In this deal, Barry Wagschal and Abe Garbo represented GW Equities as the buyer. On the other hand, Sinay Bustamante acted as the seller. The transaction closed successfully, marking another successful deal in the University Heights area.

Players

7 deals$28M volume
BUYER

6 deals$44.3M volume
BUYER

Details

SOLD
IMAGE: Abe Garbo DATE: 01/17/2024 ADDRESS: 2516 Webb Avenue MARKET: University Heights, Bronx ASSET TYPE: Multifamily BUYER: Barry Wagschal & Abe Garbo - GW Equities SELLER: Sinay Bustamante SALE PRICE: $1,000,000 UNITS: 3 ~ PPU: $333,333 SF: 4,500 ~ PPSF: $222

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$53,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12