Updated Oct 29, 2024
Griffin Ventures Acquires Norwood Multifamily For $4.7M From Abraham Hercman
405 East 204 Th Street Bronx, New York 10467, Usa
$4,700,000
$158/SF
Building Size
29,580 SF
Asset Type
MultiFamily
Closing
Jun 6, 2023
About this deal
AI
Yitzchok Weinberg has acquired two residential walkup buildings located at 405 and 409 East 204th Street in Norwood, the Bronx. The seller of the properties is Abraham Hercman of North Bronx Associates LLC. The sale was finalized for a total price of $4.7 million. The total square footage of the buildings is 29,580, resulting in a price per square foot of $159.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,700,000
- Address: 405 & 409 East 204th Street, Norwood
- Market: Norwood
Yitzchok Weinberg, representing Griffin Ventures, was the buyer in this transaction, while Abraham Hercman acted as the seller. This deal highlights the successful acquisition of two residential walkup buildings in Norwood, the Bronx. The transaction confirms the growing interest in the multifamily market in this area.
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
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93