Updated Jan 30, 2024
David Somerstein Acquires SFR In Morrisania, Bronx For $7.3M
963 Prospect Avenue, The Bronx, New York 10459, United States
$7,273,735
$539/SF
Building Size
13,493 SF
Asset Type
Single Family Residence
Closing
Jan 13, 2022
About this deal
AI
The property at 963 Prospect Avenue in Morrisania, Bronx has been sold. The single-family home, located in a mixed-use zoning area (R6, C1-4), was sold on January 14, 2022. The transaction involved a buyer, David Somerstein, and a seller, Jack Notrica. The sale price for the property was $7,273,735. The building has a total square footage of 13,493, with a price per square foot of $539. The property's total floor area ratio is 1.72, and it falls under tax class 4. The lot size measures 7,845 square feet, with dimensions of 40.23 feet by 195 feet. A permit for alteration was issued on July 30, 2020.
Summary of transation details
- Property Type: Single-Family Home (SFR)
- Transaction Amount: $7,273,735
- Market: Morrisania, Bronx
- Zoning: R6, C1-4
- Buyer: David Somerstein
- Seller: Jack Notrica
- Total Square Footage: 13,493
- Price per Square Foot: $539
- Floor Area Ratio (FAR): 1.72
- Tax Class: 4
- Lot Size: 7,845 square feet
- Permits: Alteration 2 (07/30/2020)
- Lot Dimension: 40.23 ft x 195 ft
David Somerstein represented the buyer in this transaction. The deal was finalized between the buyer, David Somerstein, and the seller, Jack Notrica.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $539 per square foot on a published $7.3M for 13,493 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.18%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93