Camber Property Group Acquires Bronx Apartment Building For $13.2M

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.