City Skyline Realty Acquires Multifamily Property In Kingsbridge Heights, Bronx For $10.25M
SOLD
$10,250,000
+ 3
New York
See Similar DealsMultiFamily80,295 SF
Sold 07/06/2020
SOLD
City Skyline Realty Acquires Multifamily Property In Kingsbridge Heights, Bronx For $10.25M
3111 Heath Ave, The Bronx, NY 10463, USA
See Similar DealsMultiFamily80,295 SF
Sold 07/06/2020
+ 3
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$127
Total Square Footage:80,295 SF
Transaction Type:Sale
Located in Kingsbridge Heights, Bronx, the multifamily property at 3111 Heath Avenue has been sold in a closed transaction. The property spans 60,295 square feet with an additional 20,000 square feet in the basement. The sale price for this asset was $10,250,000, resulting in a price per square foot of $166. With 66 units in total, this property offers an attractive investment opportunity with a 6.5% capitalization rate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,250,000
- Market: Kingsbridge Heights, Bronx
- Square Footage: 60,295 sf + 20,000 sf basement
- Price Per Square Foot: $166
- Units: 66
The sale of the property was facilitated by the seller, Anthony Caruso, representing Bilynn Realty, and the buyer, Doug Peterson, represented by City Skyline Realty. The involvement of these brokers highlights their expertise and commitment to closing successful real estate deals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,416.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,590.23
Annual Debt Service$583,082.75
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