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
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93