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643 Southern Boulevard, The...

Jonathan Wiener Acquires Multi Family Property In Longwood, Bronx For $5.2M
SOLDMultiFamily

Jonathan Wiener Acquires Multi Family Property In Longwood, Bronx For $5.2M

643 Southern Boulevard, The Bronx, New York 10455, United States

$5,200,000

$126/SF

Building Size

40,992 SF

Asset Type

MultiFamily

Closing

Dec 20, 2021

AI

The multi-family property located at 643 Southern Boulevard in Longwood, Bronx has been sold. The transaction took place on December 21, 2021. The property is zoned as R7-1 and has a floor area ratio (FAR) of 3.94. The total lot size is 10,400 square feet, with dimensions of 80 ft x 130 ft.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $5,200,000
  • Buyer: Jonathan Wiener
  • Seller: Abraham Lazer Kviat
  • Building Square Footage (BSF): 35,776
  • Price per BSF: $145
  • Lot Square Footage (SF): 40,992
  • Price per SF: $127
  • Tax Class: 2
  • Last Sale Price: $0 (3/28/2000)

The deal was facilitated by Jonathan Wiener as the buyer and Abraham Lazer Kviat as the seller. The property was sold for a total of $5,200,000. The building spans a total of 35,776 square feet, with a price per BSF of $145. The lot size measures 40,992 square feet, with a price per SF of $127. The previous sale of the property occurred on March 28, 2000, with a sale price of $0. The property is classified under tax class 2.

Players

Jonathan Wiener

Chestnut Holdings

Buyer

$165.6M

vol

24 deals

Buyer

Abraham Lazer Kviat

Seller

$15.2M

vol

3 deals

Seller

New York 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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93