BGM Capital Acquires Multifamily Property In Mott Haven For $930,000
SOLD
$930,000
New York
See Similar DealsMultiFamily2,280 SF
Sold 12/29/2021
SOLD
BGM Capital Acquires Multifamily Property In Mott Haven For $930,000
282 Alexander Avenue, Bronx, NY 10454
See Similar DealsMultiFamily2,280 SF
Sold 12/29/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$407
Total Square Footage:2,280 SF
Transaction Type:Sale
The multifamily property located at 282 Alexander Ave. in Mott Haven, Bronx, was recently sold in a closed transaction. The property has a total of 2,280 square feet and is zoned as R6. The sale took place on 12/29/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $930,000
- Market: Mott Haven
- Address: 282 Alexander Ave.
- Zoning: R6
The buyer, BGM Capital, acquired the property from Dash Real Estate Group. Dash Real Estate Group was represented by Joshua Dardashtian and Jarret Kerman in the transaction. The sale price amounted to $930,000, resulting in a price per square foot (PPSF) of $407. The property has a total of 2 units, equating to a price per unit (PPU) of $465,000.
It is worth noting that Dash Real Estate Group owns one of the largest portfolios of residential properties in the Mott Haven section of the Bronx. They are actively seeking new value-add projects and development sites. Opportunities can be shared with them through direct messages (DM).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$49,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,304.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,408.67
Annual Debt Service$52,904.09
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