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1031-1051 Westchester Avenue

Albert Rabizadeh Acquires Retail Property On Westchester Avenue In Bronx For $22.75M
SOLD

Albert Rabizadeh Acquires Retail Property On Westchester Avenue In Bronx For $22.75M

1031-1051 Westchester Avenue

Building Size

Asset Type

Closing

Sep 15, 2022

AI

The retail property located at 1031-1051 Westchester Avenue in the Bronx has been sold for a total of $22,750,000. The property spans across 23,339 square feet, resulting in a price per square foot of $974.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $22,750,000
  • Square Footage: 23,339
  • Price per Square Foot: $974
  • Address: 1031-1051 Westchester Avenue, Bronx
  • Market: Bronx

Albert Rabizadeh has purchased the property from the Vanbarton Group. The seller was represented by Josh Neustadter and Jonathan Squires from Cushman & Wakefield. On the other hand, Victor Sozio and Jason Gold from Ariel Property Advisors acted as the buyer's representatives in the deal.

Players

Vanbarton Group
Vanbarton GroupBrokerage

Albert Rabizadeh

Global Asset Management

Buyer

$110.7M

vol

11 deals

Buyer
Vanbarton Group
Vanbarton GroupSeller

Larchmont CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93