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
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.
Players
Bronx 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93