Updated Dec 21, 2023
Shahzad Mir Acquires Commercial Property In University Heights, Bronx For $3M
296 West Fordham Road, The Bronx, New York 10468, United States
$3,000,000
$24,390/SF
Building Size
123 SF
Asset Type
Commercial
Closing
Apr 27, 2022
About this deal
AI
A commercial property located at 296 West Fordham Road in University Heights, Bronx has been sold for $3,000,000. The property, with an address in the University Heights neighborhood of the Bronx, is zoned as C8-3, indicating its commercial use. The buyer of the property is Shahzad Mir, while the seller is Zindel Zelmanovitch. The transaction took place on April 28, 2022.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $3,000,000
- Market: University Heights, Bronx
The property has a building square footage of 24,620 and a price per building square footage of $121. Additionally, it has a land square footage of 123 with a price per square footage of $24,390. The property has a floor area ratio (FAR) of 0.01, indicating a low development potential. Its tax class is 4.
The lot size of the property is 12,310 square feet, with dimensions measuring 117.96 ft x 162.5 ft. The property has a permit for alteration 2, issued on November 17, 2009.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93