Sunrise Equities Acquires Multifamily Building In New York City For $1.51M
912 Bryant Avenue & 914 East 224th Street
$1,510,000
$113/SF
Building Size
13,320 SF
Asset Type
MultiFamily
Closing
Jan 6, 2023
AI
Two multifamily properties located at 912 Bryant Avenue and 914 East 224 Street in New York City have been sold in a recent transaction. The buyer, Neer Sachar of Sunrise Equities, acquired the properties from sellers Otis Reese and Rose Santiago. The sale was facilitated by brokers Otis D Gore of EXIT Realty Group and Diamonte Zarba of GDGC Enterprises.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,510,000
- Number of Units: 7
- Price per Unit: $215,714
- Total Square Footage: 6,660
- Price per Square Foot: $227
- Address: 912 Bryant Avenue & 914 East 224 Street, New York City
Neer Sachar, representing Sunrise Equities, actively seeks value-add multifamily and mixed-use investment opportunities throughout New York City. For any potential deals, Neer Sachar can be contacted at (516)776-3195 or [email protected].
Players
New York City 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
10.51%
Cash-on-Cash
-3.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93