Moishe Tove Purchases Bronx Multifamily Property From Matthew Vrasadis For $1.35M
SOLD
$1,350,000
New York
See Similar DealsMultiFamily5,372 SF
Sold 10/29/2025
SOLD
Moishe Tove Purchases Bronx Multifamily Property From Matthew Vrasadis For $1.35M
585 East 178th Street
See Similar DealsMultiFamily5,372 SF
Sold 10/29/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$251
Total Square Footage:5,372 SF
Transaction Type:Sale
The transaction involved a multifamily asset located at 583 & 585 East 178th Street in the Bronx, which was sold for $1,350,000. The property has a total of 6 units within a square footage of 5,372, resulting in a price per unit of $225,000 and a price per square foot of $251.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Units: 6
- Square Footage: 5,372
- Price Per Unit: $225,000
- Price Per Square Foot: $251
- Buyer: Moishe Tove
- Seller: Matthew Vrasadis
- Seller's Representative: Luca DiCiero & Devin Navarro - NY Space Finders
The buyer, Moishe Tove, acquired the property for long-term hold below market rate in the five boroughs. This strategic decision underscores the buyer's focus on investment potential.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$72,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26
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