BCN Development Acquires Multifamily Property In Bronx For $6.3M
SOLD
$6,300,000
New York
See Similar DealsMultiFamily20,000 SF
Sold 11/12/2021
SOLD
BCN Development Acquires Multifamily Property In Bronx For $6.3M
959 Anderson Avenue, Bronx, NY 10452
See Similar DealsMultiFamily20,000 SF
Sold 11/12/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$315
Total Square Footage:20,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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