Updated Oct 28, 2024
Phoenix Realty Group Acquires Bronx Multifamily Portfolio For $91M
501-513 Commonwealth Ave, Bronx, NY, USA
$91,000,000
$241/SF
Building Size
376,218 SF
Asset Type
MultiFamily
Closing
Sep 17, 2021
About this deal
AI
Phoenix Realty Group has acquired a multifamily property in Bronx for $91,000,000. The property, located at 501-513, 523, 539 & 549-561 Commonwealth Ave. & 502, 520, 540-542 & 550 Rosedale Ave., spans a total of 376,218 square feet. With a price per square foot of $241, the property consists of 472 units, resulting in a price per unit of $192,796.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $91,000,000
- Square Footage: 376,218
- Price per Square Foot: $241
- Number of Units: 472
- Price per Unit: $192,796
The sale was facilitated by Victor Sozio, Shimon Shkury, Michael Tortorici, and Daniel Mahfar from rielPA.NYC. The seller, Spencer Equity Group, successfully closed the deal with Phoenix Realty Group.
On the Map
$91,000,000
$241/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Victor Sozio to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93