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591 East 137th Street

Joshua Dardashtian Acquires Multifamily Property In Mott Haven, Bronx For $2M
SOLDMultiFamily

Joshua Dardashtian Acquires Multifamily Property In Mott Haven, Bronx For $2M

591 East 137th Street & 593 East 137th Street

$2,000,000

$119/SF

Building Size

16,800 SF

Asset Type

MultiFamily

Closing

Oct 12, 2023

AI

The transaction involved a multifamily asset located at 591 & 593 E 137th Street in the Mott Haven neighborhood of the Bronx. This property consists of 27 units and has a total square footage of 8,400, with a sale price of $2,000,000, translating to a per unit price of $74,074 and a price per square foot of $238.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $2,000,000
  • Units: 27
  • Square Footage: 8,400
  • Price Per Unit: $74,074
  • Price Per Square Foot: $238
  • Buyer: Joshua Dardashtian - Dash Real Estate Group
  • Broker: Richard Guarino - Friedman-Roth Realty

Joshua Dardashtian, representing Dash Real Estate Group, is expanding their portfolio in Mott Haven by acquiring this property. The firm is actively looking for redevelopment and rehab properties, as well as development sites across New York City, Lower Westchester, and Long Island. Interested parties can reach out to inquire about opportunities at [email protected].

Players

Richard Guarino

Friedman-Roth Realty

Broker

$305.7M

vol

52 deals

Broker
Joshua Dardashtian

Joshua Dardashtian

Dash Real Estate Group

Buyer

$10.6M

vol

6 deals

Buyer

Bronx MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93