Updated Dec 11, 2024
Icer Properties Acquires Multifamily Property On Summit Ave In Bronx For $1.675M
993 Summit Ave, Bronx, NY, USA
$1,675,000
$185/SF
Building Size
9,032 SF
Asset Type
MultiFamily
Closing
Feb 4, 2021
About this deal
AI
A multifamily property located at 993 Summit Ave in the Bronx has been sold in a recent transaction. The property consists of 9 units with a total square footage of 9,032. The property was listed with an asking price of $1,750,000, and it was sold for $1,675,000, resulting in a price per unit of $186,111 and a price per square foot of $185.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,675,000
- Address: 993 Summit Ave
- Market: Bronx
The buyer of the property is Joseph Jemal, representing ICER Properties. The seller of the property is Isaac Fried. The deal was facilitated by Mark Singer and David Gerstel from InRock Realty.
On the Map
$1,675,000
$185/SF
MultiFamily
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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
9.47%
Cash-on-Cash
-2.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93