Yechiel Weinberger Acquires Fordham Multifamily For $14.2M
SOLD
$14,200,000
+ 1
New York
See Similar DealsMultiFamily77,975 SF
Sold 04/13/2022
SOLD
Yechiel Weinberger Acquires Fordham Multifamily For $14.2M
2518 Webb Avenue, The Bronx, New York 10468, United States
See Similar DealsMultiFamily77,975 SF
Sold 04/13/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$182
Total Square Footage:77,975 SF
Transaction Type:Sale
The multifamily property located at 2518 Webb Ave. & 2807 Claflin Avenue in the Fordham and Kingsbridge Heights neighborhoods was recently sold in a closed transaction. The property spans a total of 126,000 square feet and consists of 114 units. The sale price for this transaction was $14,200,000, resulting in a price per unit of $124,561 and a price per square foot of $112.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,200,000
- Address: 2518 Webb Ave. & 2807 Claflin Avenue
- Market: Fordham, Kingsbridge Heights
The buyer of the property was Yechiel Weinberger, while the seller was The Estate of Vito Manginelli. The transaction was facilitated by Marco Lala, David Raciti, Jack Lala & Michelle Lala from Team Lala, who represented the buyer and seller in the deal. RM Friedland served as the broker for the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$757,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,449.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,315.24
Annual Debt Service$807,782.93
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