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Chestnut Holdings Acquires 24-Unit Multifamily Building In Belmont, Bronx For $4.3 Million

Property Image
SOLD
$4,275,000

New York

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MultiFamily22,500 SF
Sold 05/25/2023
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Property Image
SOLD

Chestnut Holdings Acquires 24-Unit Multifamily Building In Belmont, Bronx For $4.3 Million

622 East 187th Street

See Similar Deals
MultiFamily22,500 SF
Sold 05/25/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$190
Total Square Footage:22,500 SF
Transaction Type:Sale

Chestnut Holdings has purchased a 24-unit residential walkup building in Belmont, the Bronx, for $4.3 million from Alma Realty, represented by 622 East 187th Street, LLC. The property, located at 622 East 187th Street, encompasses 22,500 square feet of built space.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,275,000
  • Buyer: Chestnut Holdings - Jonathan Wiener
  • Seller: Alma Realty - Efstathios Valiotis
  • Units: 24
  • Price per Unit (PPU): $178,125
  • Square Footage: 22,500
  • Price per Square Foot (PPSF): $190
  • Market: Belmont

Jonathan Wiener from Chestnut Holdings represented the buyer in this transaction, while Efstathios Valiotis from Alma Realty represented the seller.

Players

Jonathan Wiener
Chestnut Holdings
Jonathan Wiener
24 deals$165.6M volume
BUYER
AR
Alma Realty
SELLER

Details

SOLD
IMAGE: Jonathan Wiener DATE: 05/25/202023 ADDRESS: 622 East 187th Street MARKET: Belmont ASSET TYPE: Multifamily BUYER: Chestnut Holdings (@ChestnutHoldings) - Jonathan Wiener SELLER: Alma Realty - Efstathios Valiotis SALE PRICE: $4,275,000 UNITS: 24 ~ PPU: $178,125 SF: 22,500 ~ PPSF: $190 NOTE: Chestnut Holdings has purchased a 24-unit residential walkup building in Belmont, the Bronx, for $4.3 million from Alma Realty, represented by 622 East 187th Street, LLC. The property, located at 622 East 187th Street, encompasses 22,500 square feet of built space.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$228,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,188.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,265.68
Annual Debt Service$243,188.17