BCN Development Acquires Multifamily Property In Bronx For $6.3M
959 Anderson Avenue, Bronx, NY 10452
$6,300,000
$315/SF
Building Size
20,000 SF
Asset Type
MultiFamily
Closing
Nov 12, 2021
AI
BCN Development has acquired a multifamily property in the Bronx market for a price of $6,300,000. The property, located at 959 Anderson Ave., consists of 25 units with a total square footage of 20,000. The purchase price per unit stands at $252,000, while the price per square foot is $315.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,300,000
- Address: 959 Anderson Ave.
- Market: Bronx
- Buyer: BCN Development
- Seller: Robert Johnson & Ethel Johnson
- Units: 25
- Price per Unit: $252,000
- Square Footage: 20,000
- Price per Square Foot: $315
Craig Nassi of LIVI ARIEL LLC represented BCN Development in this transaction. The sale was completed on 11/12/2021. For more information, visit http://www.bcndevelopment.com.
Players
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93