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1174 Commerce Avenue, The B...

Brendan McIntee Acquires Unionport Commercial Property From Bradford S Barr For $6M
SOLDCommercial

Brendan McIntee Acquires Unionport Commercial Property From Bradford S Barr For $6M

1174 Commerce Avenue, The Bronx, New York 10462, United States

$6,000,000

$355/SF

Building Size

16,900 SF

Asset Type

Commercial

Closing

Apr 27, 2022

AI

The commercial property located at 1174 Commerce Avenue in Unionport, Bronx has been sold in a transaction that closed on April 28, 2022. The property is zoned as M1-1 and has a total building square footage (BSF) of 32,500. The price of the property was $6,000,000, which translates to a price per BSF (PPBSF) of $184. The total lot size is 32,500 square feet, with dimensions of 15.67 feet by 360 feet. The previous sale of the property took place on July 28, 2016, at a price of $2,800,000. An alteration permit was issued on November 1, 2011.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $6,000,000
  • Market: Unionport, Bronx
  • Zoning: M1-1
  • Buyer: Brendan McIntee
  • Seller: Bradford S Barr
  • Price per Square Foot (PPSF): $355
  • Square Feet (SF): 16,900
  • Floor Area Ratio (FAR): 0.52
  • Tax Class: 4

Brendan McIntee represented the buyer in this transaction, while Bradford S Barr represented the seller.

Players

Bradford S Barr

BNS Real Estate

Broker

$101.3M

vol

4 deals

Broker

Brendan McIntee

Buyer

$81.8M

vol

2 deals

Buyer

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93