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Concourse Realty Brokers $20M Package Deal Sale In New York City

Property Image
SOLD
$20,000,000

New York

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56 SF
Sold 01/03/2023
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Property Image
SOLD

Concourse Realty Brokers $20M Package Deal Sale In New York City

1351 Jerome Avenue, The Bronx, New York 10452, United States

See Similar Deals
56 SF
Sold 01/03/2023
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Summary

NEW YORK
Price Per Square Foot:$357,142
Total Square Footage:56 SF
Transaction Type:Sale

The package deal involving the properties at 1351 Jerome Avenue and 1342 Inwood Avenue in New York City has been finalized. The transaction was facilitated by David Simone from Concourse Realty. The sale price for the package deal amounted to $20,000,000. The total square footage of the properties is 56,250, resulting in a price per square foot of $356.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $20,000,000
  • Address: 1351 Jerome Avenue & 1342 Inwood Avenue, New York City
  • Market: New York City
  • Broker: David Simone - Concourse Realty
  • Square Footage: 56,250
  • Price per Square Foot: $356

David Simone, representing Concourse Realty, played a pivotal role in the successful completion of this transaction. The package deal, consisting of 1351 Jerome Avenue and 1342 Inwood Avenue, aligns with the market value and boasts a square footage of 56,250. This significant real estate deal demonstrates the expertise of the professionals involved and highlights the strong market demand in New York City.

Players

David Simone
25 deals$143.1M volume(212) 207-2403
BROKER

Details

SOLD
IMAGE: David Simone DATE: 03/01/2023 ADDRESS: 1351 Jerome Avenue & 1342 Inwood Avenue MARKET: New York City ASSET TYPE: Package Deal BROKER: David Simone (@DSimone79) - Concourse Realty (@ConcourseNYC) SALE PRICE: $20,000,000 SF: 56,250 ~ PPSF: $356

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

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44