SOLDOther
Heritage Affordable Communities Acquires Affordable Housing In Yonkers & Bronx For $23.95M
2120 Hughes Avenue, Bronx, NY 10457, USA
$23,950,000
$1,394/SF
Building Size
17,172 SF
Asset Type
Other
Closing
Nov 5, 2021
AI
The sale of 34 Highland Ave. in Yonkers and 2120 Hughes Ave. in the Bronx has been completed. The property is an affordable housing asset.
Summary of transaction details
- Property Type: Affordable Housing
- Transaction Amount: $23,950,000
- Total Units: 151
- Price Per Unit: $158,609
- Market: Yonkers & Bronx
The buyer of the property is Heritage Affordable Communities, and the seller is Macquesten Development represented by Rella Fogliano.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93