Updated Nov 20, 2023
Oscar Kohn Acquires Melrose Multifamily For $2M
3023 3rd Avenue, Melrose, Bronx, NY, USA
$2,000,000
$400/SF
Building Size
5,000 SF
Asset Type
MultiFamily
Closing
Nov 28, 2018
About this deal
AI
The multifamily property located at 3023 3rd Avenue in Melrose, Bronx has been sold for $2,000,000. The transaction took place on November 29, 2018. The property spans 5,000 square feet, resulting in a price per square foot of $400. The true cap rate for this investment was 4%. The property generated a gross income of $151,200.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Market: Melrose, Bronx
- Seller: Margaret Amador
- Buyer: Oscar Kohn
- Broker: Anthony Watkins
Anthony Watkins of Watkins Realty Group represented both the buyer, Oscar Kohn, and the seller, Margaret Amador, in this transaction. The sale of this multifamily property in Melrose, Bronx marks a significant deal in the real estate market.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93