HK Organization Sells Multifamily & Land In Morrisania, Bronx For $3M. Brokers: Aaron Jungreis, Alex Fuchs & Ben Khakshoor - Rosewood Realty Group
SOLD
$3,000,000
New York
See Similar DealsMultiFamily82,047 SF
Sold 09/14/2023
SOLD
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
See Similar DealsMultiFamily82,047 SF
Sold 09/14/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$36
Total Square Footage:82,047 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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