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2523 University Ave, The Br...

Eric Miller Acquires Fordham Apartment For $7.95M From Roseann Manginelli
SOLDMultiFamily

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

Michael Fusco

Marcus & Millichap

Broker

$576.1M

vol

88 deals

Broker

Eric Miller

Parkway Realty Associates

Buyer

$149.2M

vol

8 deals

Buyer

Roseann Manginelli

Seller

$20M

vol

3 deals

Seller

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