Albert Rabizadeh Acquires Retail Property On Westchester Avenue In Bronx For $22.75M
1031-1051 Westchester Avenue
Building Size
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Asset Type
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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
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