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Builders Group USA Acquires Multifamily Re-Development In Belmont, Bronx For $1.15M

Property Image
SOLD
$1,500,000
Brian Davila
Derek Bestreich
+ 2

New York

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MultiFamily3,780 SF
Sold 10/12/2023
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Property Image
SOLD

Builders Group USA Acquires Multifamily Re-Development In Belmont, Bronx For $1.15M

779 Grote Street

See Similar Deals
MultiFamily3,780 SF
Sold 10/12/2023
Brian Davila
Derek Bestreich
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$396
Total Square Footage:3,780 SF
Transaction Type:Sale

The property involved in this transaction is a multifamily re-development located at 779 Grote Street in Belmont, Bronx. The sale price for this property is $1,150,000. It consists of 3 units, with a price per unit of $383,333. The total square footage is 3,780, with a price per square foot of $304. The building square footage is 10,750, with a price per building square foot of $107.

Summary of transaction details

  • Property Type: Multifamily Re-Development
  • Transaction Amount: $1,150,000
  • Units: 3
  • Price per Unit: $383,333
  • Square Footage: 3,780
  • Price per Square Foot: $304
  • Building Square Footage: 10,750
  • Price per Building Square Foot: $107

The buyer in this transaction is Builders Group USA, while the seller is the Johnson Family. The brokers involved in this deal are Derek Bestreich, Steve Reynolds, Brian Davila, and John Loch from Investment Property Realty Group (IPRG).

Players

Brian Davila
108 deals$283.4M volume(718) 360-8849
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Steve Reynolds
Investment Property Realty Group (IPRG)
133 deals$364.4M volume(718) 360-8807
BROKER

John Loch
Investment Property Realty Group (IPRG)
28 deals$56.3M volume(718) 360-4910
BROKER

BUYER

2 deals$2.9M volume
SELLER

Details

SOLD
IMAGE: Brian Davila & John Loch DATE: 10/12/2023 ADDRESS: 779 Grote Street MARKET: Belmont, Bronx ASSET TYPE: Multifamily Re-Development BUYER: Builders Group USA SELLER: Johnson Family BROKERS: Derek Bestreich (@Dsb619), Steve Reynolds (@SteveReynoldsNYC), Brian Davila (@Vills25) & John Loch (@JohnLoch15) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $1,150,000 UNITS: 3 ~ PPU: $383,333 SF: 3,780 ~ PPSF: $304 BSF: 10,750 ~ PPBSF: $107 IPRG

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

$79,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18