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1351 Jerome Avenue, The Bro...

Updated Sep 9, 2024

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

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

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

$20,000,000

$357,142/SF

Building Size

56 SF

Asset Type

Closing

Jan 3, 2023

About this deal

AI

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

Concourse Realty

Broker

$153.6M

vol

27 deals

Broker

Bronx CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Deal FAQ

About $357.1K per square foot on a published $20M for 56 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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