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3508 Kings College Pl, The ...

Bernard Miller Entities Acquires 82-Unit MultiFamily In Bronx For $20.6M
SOLDMultiFamily

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

52,400 SF

Asset Type

MultiFamily

Closing

Apr 26, 2018

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

David Gerstel

InRock Realty

Broker

$16.8M

vol

5 deals

Broker

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