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2870 Marion Avenue, Bronx, ...

Laura O’Shea Acquires Multifamily Property In Bedford Park, Bronx For $4.1M
SOLDMultiFamily

Laura O’Shea Acquires Multifamily Property In Bedford Park, Bronx For $4.1M

2870 Marion Avenue, Bronx, NY 10458

$4,125,000

$74/SF

Building Size

55,203 SF

Asset Type

MultiFamily

Closing

Nov 23, 2020

AI

Located in Bedford Park, Bronx, the recently closed property transaction at 2870 Marion Avenue involved the sale of a multifamily asset. The property spans a total area of 55,203 square feet and is zoned as R7A. The transaction took place on November 24, 2020, with a purchase price of $4,125,000, resulting in a price per square foot of $74. The property falls under tax class 2.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,125,000
  • Address: 2870 Marion Avenue, Bedford Park, Bronx
  • Market: Bedford Park, Bronx
  • Zoning: R7A

The buyer in this transaction was Laura O’Shea, while the seller was William Schur. The deal was facilitated by brokers Jonny Yuran, Ron Solarz, and Billy Cohen of Newmark.

Players

Jonny Yuran

Newmark

Broker

$67.9M

vol

6 deals

Broker

Laura O’Shea

Buyer

$12.1M

vol

2 deals

Buyer

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

3.85%

Cash-on-Cash

-1.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93