Updated Dec 4, 2024
Joel Teitelbaum Acquires Commercial Property In Wakefield, Bronx For $4.1M
555 East 242nd Street, The Bronx, New York 10470, United States
$4,075,000
$144/SF
Building Size
28,290 SF
Asset Type
Commercial
Closing
Apr 5, 2022
About this deal
AI
The commercial property located at 555 East 242nd St in Wakefield, Bronx has been sold. The property has a lot size of 21,930 square feet with a building square footage of 28,290. The sale price for the property was $4,075,000, resulting in a price per square foot of $144. The buyer of the property is Joel Teitelbaum, while the seller is Steven D. Corsun. The property is zoned as M1-1 for commercial use and has a floor area ratio (FAR) of 1.29. The property is classified as tax class 4. The lot dimension is 238.5 feet by 98.77 feet. An alteration permit was issued on June 28, 2019.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $4,075,000
- Market: Wakefield, Bronx
- Zoning: M1-1
The buyer of the property, Joel Teitelbaum, was represented by their broker at the deal. However, the representative's agency is not mentioned in the CONTEXT. Additionally, there are no additional details available regarding the transaction.
On the Map
$4,075,000
$144/SF
Commercial
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.89%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93