Camber Property Group Acquires Bronx Apartment Building For $13.2M
1314 Seneca Ave, The Bronx, NY 10474, USA
Building Size
66,000 SF
Asset Type
Other
Closing
Nov 28, 2020
About this deal
AI
The apartment building located at 1314 Seneca Avenue in New York City's Bronx market has been sold in a closed transaction for a price of $13,200,000. The property spans approximately 66,000 square feet and has a price per square foot of $200. It consists of 62 units, including 60 residential units and 2 commercial units. With a capitalization rate of 4.85%, this property presents a favorable investment opportunity.
Summary of transaction details
- Property Type: Apartment Building
- Transaction Amount: $13,200,000
- Square Footage: 66,000 sf
- Price per Square Foot: $200
- Units: 62 (60 Residential & 2 Commercial)
- Capitalization Rate: 4.85%
The seller of the property is Zak Equities LLC, a group of local investors led by Gershon Eichorn. They have successfully closed the transaction and handed over ownership to Camber Property Group, a prominent buyer in the real estate market.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93