Ryan & Bradley Zar Purchase Multifamily Property In Mott Haven For $2.25M
517 Courtlandt Avenue
$2,250,000
$228/SF
Building Size
9,870 SF
Asset Type
MultiFamily
Closing
Jun 28, 2024
AI
The multifamily property located at 517 Courtlandt Avenue in Mott Haven, Bronx, was recently sold for $2,250,000. The property, consisting of 16 units and spanning 9,870 square feet, attracted the attention of buyers Ryan & Bradley Zar.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Buyers: Ryan & Bradley Zar
- Brokers: Seth Glasser, Michael Fusco, & Benny Katz - Marcus & Millichap
The deal was facilitated by the brokers Seth Glasser, Michael Fusco, and Benny Katz from Marcus & Millichap. The involvement of these key individuals ensured a successful transaction for both the buyers and sellers.
Players
Bronx 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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93