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Casablanca Property Owner Acquires 2 Story Commercial Building In Bronx For $4.9M

Property Image
SOLD
$4,900,000
Michael Saidian
Nir Mor

Florida

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Commercial9,335 SF
Sold 12/22/2017
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Property Image
SOLD

Casablanca Property Owner Acquires 2 Story Commercial Building In Bronx For $4.9M

334 Walton Avenue

See Similar Deals
Commercial9,335 SF
Sold 12/22/2017
Michael Saidian
Nir Mor
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Commercial
Price Per Square Foot:$524
Total Square Footage:9,335 SF
Transaction Type:Sale

A 2-story commercial building located at 334-340 Walton Ave in New York's Bronx neighborhood was recently sold for $4,900,000. The property spans approximately 9,335 square feet, resulting in a price per square foot of $524. The total buildable square footage for this asset is 60,519 square feet.

Summary of transation details

  • Property Type: 2 Story Commercial Building
  • Transaction Amount: $4,900,000

The seller in this transaction was Societe D’Exploitation Agricole C-I, while the buyer was Casablanca Property Owner. Representing the buyer in the deal were Nir Mor from Capital Property Partners (@Nirmor5) and Michael Saidian, also from Capital Property Partners (@Saidcity).

Players

Nir Mor
Hanover Capital
Nir Mor
20 deals$160.9M volume
BROKER
Michael Saidian
Capital Property Partners
Michael Saidian
9 deals$51.6M volume
BROKER
CO
Casablanca Property Owner
BUYER
SC
Societe D’Exploitation Agricole C-I
SELLER

Details

SOLD
IMAGE: 12/22/17 ADDRESS: 334-340 Walton Ave CITY: New York MARKET: Bronx ASSET TYPE: 2 Story Commercial Building SELLER: Societe D’Exploitation Agricole C-I BUYER: Casablanca Property Owner BROKER: for Buyer - Nir Mor, Capital Property Partners @Nirmor5, Michael Saidian, Capital Property Partners @Saidcity PRICE: $4,900,000 SF: 9,335 sf ~ PPSF: $524 TOTAL BUILDABLE SF: 60,519 sf

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$261,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
Annual Debt Service$278,742.00