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779 Grote Street

Updated Dec 4, 2024

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

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

779 Grote Street

$1,500,000

$396/SF

Building Size

3,780 SF

Asset Type

MultiFamily

Closing

Oct 12, 2023

About this deal

AI

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).

On the Map

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$1,500,000

$396/SF

MultiFamily

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Players

Brian Davila

Investment Property Realty Group (IPRG)

Broker

$292.7M

vol

112 deals

Broker
BU
Builders Group USABuyer

Johnson Family

Seller

$2.9M

vol

2 deals

Seller
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Bronx MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $396 per square foot on a published $1.5M for 3,780 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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