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305 E 182nd St, Bronx, NY, ...

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

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

305 E 182nd St, Bronx, NY, 10457

$2,800,000

Building Size

Asset Type

Commercial

Closing

Nov 20, 2023

AI

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

Ariel Property Advisors

Broker

$908.9M

vol

48 deals

Broker

Bronx 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

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93