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912 Bryant Avenue

Sunrise Equities Acquires Multifamily Building In New York City For $1.51M
SOLDMultiFamily

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

Otis D Gore

Broker

$3.5M

vol

3 deals

Broker
Neer Sachar

Neer Sachar

Sunrise Equities

Buyer

$18.1M

vol

13 deals

Buyer
SE
Sunrise EquitiesBuyer

New York City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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