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Robert Frankel Acquires Commercial Property On Hunts Point Avenue For $3.2M

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SOLD
$3,200,000

New York

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Commercial9,995 SF
Sold 03/29/2022
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SOLD

Robert Frankel Acquires Commercial Property On Hunts Point Avenue For $3.2M

421 Hunts Point Avenue, The Bronx, New York 10474, United States

See Similar Deals
Commercial9,995 SF
Sold 03/29/2022
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Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$320
Total Square Footage:9,995 SF
Transaction Type:Sale

The commercial property located at 421 Hunts Point Avenue in Hunts Point, Bronx has been sold in a closed transaction. The property is zoned as M1-2, HP and has a floor area ratio (FAR) of 0.94. The tax class for the property is 4.

Summary of Transaction Details

  • Property Type: Commercial
  • Transaction Amount: $3,200,000
  • Market: Hunts Point, Bronx
  • Address: 421 Hunts Point Avenue
  • Zoning: M1-2, HP
  • Buyer: Robert Frankel
  • Seller: Janice Georgallas
  • BSF (Building Square Footage): 21,266
  • PPSF (Price Per Square Foot): $150
  • SF (Lot Square Footage): 9,995
  • PPSF (Price Per Square Foot): $320
  • Lot Size: 10,633
  • Permits: Sing (04/05/2006)
  • Lot Dimension: 112.09 ft x 100 ft

The buyer in this transaction is Robert Frankel, while the seller is Janice Georgallas. The property sale was completed for a total price of $3,200,000. The building has a total floor area of 21,266 square feet, with a price per square foot of $150. The lot size is 10,633 square feet, and the price per square foot for the lot is $320. The property has permits dating back to April 5, 2006, for Sing use.

Players

13 deals$166M volume
BUYER

Details

SOLD
IMAGE: 03/29/2022 ADDRESS: 421 Hunts Point Avenue MARKET: Hunts Point, Bronx ASSET TYPE: Commercial ~ ZONING: M1-2, HP BUYER: Robert Frankel SELLER: Janice Georgallas PRICE: $3,200,000 BSF: 21,266 ~ PPBSF: $150 SF: 9,995 ~ PPSF: $320 FAR: 0.94 TAX CLASS: 4 LOT SIZE: 10,633 PERMITS: Sing (04/05/2006) LOT DIMENSION: 112.09 ft x 100 ft

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

$170,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59