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Stagg Group Acquires Overlook Manor Multifamily In The Bronx For $18M

Property Image
SOLD
$18,000,000

New York

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MultiFamily
Sold 05/30/2023
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Property Image
SOLD

Stagg Group Acquires Overlook Manor Multifamily In The Bronx For $18M

3801 Waldo Ave Bronx, NY 10463, USA

See Similar Deals
MultiFamily
Sold 05/30/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale

The Stagg Group has purchased Overlook Manor, a 95-unit apartment property near Manhattan College in the Bronx, New York, for $18 million. The property is located at 3801 Waldo Avenue and is classified as a multifamily asset. It offers 95 units with an average price per unit of $189,474.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $18,000,000
  • Address: 3801 Waldo Avenue
  • Market: Bronx
  • Buyer: Stagg Group - Mark Stagg
  • Units: 95
  • Price Per Unit: $189,474

The Stagg Group, represented by Mark Stagg, successfully completed the purchase of Overlook Manor. This acquisition represents a significant investment opportunity for the Stagg Group in the Bronx market. The proximity of the property to Manhattan College adds to its appeal, making it an attractive choice for potential tenants.

Players

Mark Stagg
Mark Stagg
14 deals$357.8M volume
BUYER

Details

SOLD
IMAGE: Mark Stagg DATE: 05/30/2023 ADDRESS: 3801 Waldo Avenue MARKET: Bronx ASSET TYPE: Multifamily BUYER: Stagg Group (@Stagg_Group) - Mark Stagg SALE PRICE: $18,000,000 UNITS: 95 ~ PPU: $189,474 NOTE: The Stagg Group has purchased Overlook Manor, a 95-unit apartment property near Manhattan College in the Bronx, New York, for $18 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20