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2062 Morris Avenue, The Bro...

Edward Cohen Acquires Commercial Properties In Fordham, Bronx For $9.85M
SOLDCommercial

Edward Cohen Acquires Commercial Properties In Fordham, Bronx For $9.85M

2062 Morris Avenue, The Bronx, New York 10453, United States

$9,850,000

$404/SF

Building Size

24,329 SF

Asset Type

Commercial

Closing

May 9, 2022

AI

A commercial property transaction took place in the Fordham neighborhood of Bronx. The property is located at 103-109 East Burnside Avenue, 2056 Morris Avenue, and 2062 Morris Avenue. It has a total building square footage (BSF) of 64,667 and a price per square foot (PPSF) of $152. The total square footage (SF) of the property is 24,329, with a price per square foot (PPSF) of $404. The property falls under zoning designations R8, C4-4D, and J.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $9,850,000
  • Address: 103-109 East Burnside Avenue, 2056 Morris Avenue, and 2062 Morris Avenue
  • Market: Fordham, Bronx
  • Zoning: R8, C4-4D, J
  • BSF: 64,667
  • PPSF: $152
  • SF: 24,329
  • PPSF: $404

Edward Cohen successfully acquired the property from Justin B Kleinman for a total price of $9,850,000. Edward Cohen acted as the buyer in this transaction, while Justin B Kleinman acted as the seller.

Players

Edward Cohen

Verv Capital

Buyer

$20.2M

vol

9 deals

Buyer

Justin B. Kleinman

Vanbarton Group

Seller

$92.4M

vol

2 deals

Seller

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.61%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93