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3052 Third Ave., The Bronx,...

Salomon Cojab Acquires Melrose Multifamily Property For $3.1M
SOLDMultiFamily

Salomon Cojab Acquires Melrose Multifamily Property For $3.1M

3052 Third Ave., The Bronx, NY 10451, USA

$3,100,000

$46/SF

Building Size

66,500 SF

Asset Type

MultiFamily

Closing

Dec 22, 2019

AI

A multifamily property located at 3052 3rd Avenue in the Melrose neighborhood of Bronx has been sold in a closed transaction. The property spans 6,650 square feet and consists of 9 units. The sale price of the property was $3,250,000, with a price per square foot of $466. The seller of the property was Eli Silverman, and the buyer was Salomon Cojab, representing Visabe Corporation. The transaction was facilitated by brokers Greg Corbin and Brandon Serota from Rosewood Realty Group, along with Ceasar Salama.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $3,250,000
  • Square Footage: 6,650
  • Price per Square Foot: $466
  • Units: 9
  • Seller: Eli Silverman
  • Buyer: Salomon Cojab - Visabe Corporation
  • Brokers: Greg Corbin, Brandon Serota - Rosewood Realty Group and Ceasar Salama

The successful transaction of this multifamily property in Melrose, Bronx involved key individuals and companies. Salomon Cojab represented Visabe Corporation as the buyer in the deal. Greg Corbin and Brandon Serota from Rosewood Realty Group, along with Ceasar Salama, played crucial roles as brokers, facilitating the transaction for the parties involved.

Players

Brandon Serota

Arrow Real Estate Advisors

Broker

$644.4M

vol

14 deals

Broker
Rosewood Realty Group
Rosewood Realty GroupBrokerage
Salomon Cojab

Salomon Cojab

Visabe Corporation

Buyer

$28.2M

vol

5 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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93