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2807 Claflin Avenue, The Br...

Eric Miller Acquires Apartment Building On Claflin Avenue In Kingsbridge Heights, Bronx For $6.25M
SOLDMultiFamily

Eric Miller Acquires Apartment Building On Claflin Avenue In Kingsbridge Heights, Bronx For $6.25M

2807 Claflin Avenue, The Bronx, New York 10468, United States

$6,248,000

$130/SF

Building Size

48,000 SF

Asset Type

MultiFamily

Closing

Apr 11, 2022

AI

A residential apartment located at 2807 Claflin Avenue in Kingsbridge Heights - Jerome Park, Bronx, was recently sold in a closed transaction. The property is zoned as R6 and comprises an apartment building. The transaction took place on April 12, 2022.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $6,248,000
  • Market: Kingsbridge Heights - Jerome Park, Bronx
  • Address: 2807 Claflin Avenue

The buyer in this transaction was Eric Miller, while the seller was Roseann Manginelli.

The property has a building square footage (BSF) of 24,300, with a price per BSF (PPBSF) of $257. The total square footage (SF) of the property is 48,000, with a price per square footage (PPSF) of $130. The floor area ratio (FAR) is 4.80, and the tax class is 2.

The lot size of the property is 10,000 square feet, with dimensions of 100 ft x 100 ft. The previous sale price of the property was $4,000,000 on July 8, 2008. The property has permits for alteration 2, issued on June 13, 2017.

Players

Eric Miller

Parkway Realty Associates

Broker

$149.2M

vol

8 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

2.54%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93