Updated Dec 4, 2024
Bernard Miller Entities Acquires 82-Unit MultiFamily In Bronx For $20.6M
3508 Kings College Pl, The Bronx, NY 10467, USA & 3508 Kings College Pl, The Bronx, NY 10467, USA
Building Size
9,800 SF
Asset Type
MultiFamily
Closing
Apr 26, 2018
About this deal
AI
The multi-family property located at 3508 Kings College Place and 3511 Putnam Place in New York City's Bronx market has been sold for a total of $20,600,000. The property consists of 82 units, with a price per unit (PPU) of $251,000.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $20,600,000
- Units: 82
- Price Per Unit (PPU): $251,000
- Address: 3508 Kings College Place and 3511 Putnam Place, New York
- Market: Bronx
The seller of this property was MPNY Realty Inc., run by Gjon Dedvukaj. The buyer, on the other hand, was Bernard Miller Entities. Giuseppe Inglese from Friedman Roth Realty represented the seller, while David Gerstel also from Friedman Roth Realty represented the buyer in this transaction.
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