Isaac Schmidt Acquires Multifamily Property In Kingsbridge, Bronx For $15M
3340 Fort Independence St, The Bronx, NY 10463, USA
Building Size
79,800 SF
Asset Type
MultiFamily
Closing
Jul 12, 2018
AI
The multifamily property located at 3340 Ft Independence Street in Kingsbridge, Bronx has been sold for a price of $15,000,000. The property consists of 79 residential units and 4 commercial units, with a total square footage of 79,800. The price per unit is approximately $180,722, and the price per square foot is $187.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Units: 79 Residential, 4 Commercial
- Price per Unit: $180,722
- Total Square Footage: 79,800
- Price per Square Foot: $187
The seller of the property is Eric Markel, while the buyer is Isaac Schmidt. The buyer was represented by Mike Stern and Scott Jacobs from NY Standard Realty. The seller was represented by NYMF- Peter Von Der [...].
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93