Sharp Management Sells Bronx Package Deal For $40.25M With Brokers Shlomo Antebi, Yosef Katz & Erik Yankelovich
SOLD
$40,250,000
New York
See Similar DealsOther175,562 SF
Sold 09/28/2021
SOLD
Sharp Management Sells Bronx Package Deal For $40.25M With Brokers Shlomo Antebi, Yosef Katz & Erik Yankelovich
514 3rd Street, East Hampton, NY 11937, USA
See Similar DealsOther175,562 SF
Sold 09/28/2021
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$229
Total Square Footage:175,562 SF
Transaction Type:Sale
A package deal consisting of multiple properties in the Bronx has been sold for a total price of $40,250,000. The properties included in the deal are located at 514, 518, 526 & 530-534 E. 138th St., 3007 & 3009 3rd Ave., 533, 537, 550 & 574 E. 139th St., and 801 Southern Blvd. The total square footage of the properties is 175,562, resulting in a price per square foot of $229. The seller of this package deal was Sharp Management.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $40,250,000
- Square Footage: 175,562
- Price per Square Foot: $229
- Market: Bronx
The brokers involved in this transaction were Shlomo Antebi, Yosef Katz, and Erik Yankelovich from Atlas Realty Group. They represented Sharp Management in the deal.
Players
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,999.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$190,805.53
Annual Debt Service$2,289,666.42
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