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988 Boston Road

Updated Dec 4, 2024

HK Organization Sells Multifamily & Land In Morrisania, Bronx For $3M. Brokers: Aaron Jungreis, Alex Fuchs & Ben Khakshoor - Rosewood Realty Group
SOLDMultiFamily

HK Organization Sells Multifamily & Land In Morrisania, Bronx For $3M. Brokers: Aaron Jungreis, Alex Fuchs & Ben Khakshoor - Rosewood Realty Group

988 Boston Road, 992 Boston Road & 585 East 164th Street

$3,000,000

$36/SF

Building Size

27,349 SF

Asset Type

MultiFamily

Closing

Sep 14, 2023

About this deal

AI

The property involved in this transaction is located at 988-992 Boston Road & 585 East 164th Street in Morrisania, Bronx. It consists of a multifamily building and land. The sale price for this property is $3,000,000. The building has a total of 31 units, with an average price per unit of $96,774. The square footage of the property is 27,349, with a price per square foot of $110.

Summary of transaction details

  • Property Type: Multifamily & Land
  • Transaction Amount: $3,000,000
  • Units: 31
  • Price Per Unit: $96,774
  • Square Footage: 27,349
  • Price Per Square Foot: $110
  • Address: 988-992 Boston Road & 585 East 164th Street, Morrisania, Bronx

The seller of this property is the HK Organization. The brokers involved in the deal are Aaron Jungreis, Alex Fuchs, and Ben Khakshoor from Rosewood Realty Group.

On the Map

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$3,000,000

$36/SF

MultiFamily

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Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.6B

vol

217 deals

Broker
HO
HK OrganizationSeller
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Bronx MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $36 per square foot on a published $3M for 82,047 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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