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

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SOLD
$2,000,000

New York

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MultiFamily16,800 SF
Sold 10/12/2023
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SOLD

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

591 East 137th Street & 593 East 137th Street

See Similar Deals
MultiFamily16,800 SF
Sold 10/12/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$119
Total Square Footage:16,800 SF
Transaction Type:Sale

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
51 deals$293.6M volume
BROKER

Joshua Dardashtian
6 deals$10.6M volume
BUYER

Details

SOLD
IMAGE: Joshua Dardashtian & Richard Guarino DATE: 10/12/2023 ADDRESS: 591 & 593 E 137th Street MARKET: Mott Haven, Bronx ASSET TYPE: Multifamily BUYER: Joshua Dardashtian (@JoshDardash) - Dash Real Estate Group BROKER: Richard Guarino (@RichardThomas_NYC) - Friedman-Roth Realty (@FriedmanRoth) SALE PRICE: $2,000,000 UNITS: 27 ~ PPU: $74,074 SF: 8,400 ~ PPSF: $238 NOTE FROM BUYER: Dash Real Estate Group has one of the largest portfolios of properties in Mott Haven, Bronx, and is pleased to add 591-593 E137th St. We are actively acquiring redevelopment/rehab properties and development sites throughout the boroughs of NYC, Lower Westchester and Long Island. Please send opportunities to [email protected]

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,105.57
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