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$2.8M Commercial Sale On 305 E 182nd St, Bronx NY With Meridian Capital & Ariel Advisors

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SOLD
$2,800,000

New York

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SOLD

$2.8M Commercial Sale On 305 E 182nd St, Bronx NY With Meridian Capital & Ariel Advisors

305 E 182nd St, Bronx, NY, 10457

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Commercial
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Summary

NEW YORK
Asset Type:Commercial
Transaction Type:Sale

The property involved in this transaction is a four-story, 240-space parking facility located at 305 East 182nd Street, Bronx, NY, 10457. The commercial asset was sold for $2,800,000.00 in the Bronx market. The property is zoned for 35,000 buildable square feet of commercial space and 17,000 buildable square feet of residential space.

Summary of transaction details:

Jason Gold, Marko Agbaba, and Michael Tortorici of Ariel Property Advisors played a crucial role in this deal. They represented the seller and facilitated the transaction with the undisclosed buyer. The property, with its commercial and residential buildable square feet, attracted the attention of potential investors in the Fordham Heights neighborhood of The Bronx.

Players

Michael A. Tortorici
48 deals$908.9M volume
BROKER

Jason Goldy
Meridian Capital Group
9 deals$215.7M volume(212) 612-0145
BROKER

Details

SOLD
IMAGE: 305 E 182nd St, Bronx, NY, 10457 MARKET: Bronx ASSET TYPE: Commercial SELLER'S REP: Jason Goldy(Meridian Capital Group), Michael Tortorici(Ariel Property Advisors) BUYER: Unknown PRICE: $2,800,000.00

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

$149,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14