Eric Miller Acquires Fordham Apartment For $7.95M From Roseann Manginelli
2523 University Ave, The Bronx, NY 10468, USA
$8,225,000
$14/SF
Building Size
585,850 SF
Asset Type
MultiFamily
Closing
Nov 18, 2019
AI
The property located at 2518 Webb Avenue in Fordham, Bronx has been sold in a closed transaction. The apartment property is zoned as R6 and has a total of 77,975 square feet. The buyer, Eric Miller, purchased the property from the seller, Roseann Manginelli, for a total price of $7,952,000. The building has a building square footage (BSF) of 53,829, resulting in a price per BSF of $147. The price per square foot (PPSF) is $101. The property's floor area ratio (FAR) is 3.52, and it falls under tax class 2. The lot size is 22,152 square feet, with dimensions of 156.33 ft x 142.42 ft.
Summary of Transaction Details
- Property Type: Apartment
- Transaction Amount: $7,952,000
- Market: Fordham, Bronx
- Zoning: R6
Note: The property has a permit for alteration, issued on 06/13/2017.
Eric Miller from an undisclosed agency represented the buyer in this transaction, while Roseann Manginelli also had representation from an undisclosed agency.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93