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Heatherwood Communities Acquires Warehouse And Development Site In Mott Haven For $16.8M

Property Image
SOLD
$16,800,000
Daniel Rahmani
Nir Mor
AF

New York

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Development Site31,760 SF
Sold 11/29/2020
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Property Image
SOLD

Heatherwood Communities Acquires Warehouse And Development Site In Mott Haven For $16.8M

288 Walton Ave, The Bronx, NY 10451, USA

See Similar Deals
Development Site31,760 SF
Sold 11/29/2020
Daniel Rahmani
Nir Mor
AF
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$529
Total Square Footage:31,760 SF
Transaction Type:Sale

The property involved in this closed transaction is a warehouse and development site located at 288 Walton Ave in Mott Haven, Bronx, New York. The property has a total square footage of 31,760, with a buildable square footage of approximately 170,000. The transaction closed at a price of $16,800,000.

Summary of Transaction Details

  • Property Type: Warehouse, Development Site
  • Transaction Amount: $16,800,000
  • Address: 288 Walton Ave
  • Market: Mott Haven, Bronx
  • City: New York
  • Square Footage: 31,760
  • Buildable Square Footage: 170,000 +/-

The seller of the property was Abraham Fruchthandler, representing FBE Limited. The buyer was Doug Patrick, from Heatherwood Communities. The transaction was facilitated by Nir Mor and Daniel Rahmani, brokers from Capital Property Partners.

Players

Daniel Rahmani
Capital Property Partners
Daniel Rahmani
12 deals$184.9M volume
BROKER
Nir Mor
Hanover Capital
Nir Mor
20 deals$160.9M volume
BROKER
AF
Abraham Fruchthandler
7 deals$256.1M volume
SELLER

Details

SOLD
IMAGE: Nir Mor and Daniel Rahmani ADDRESS: 288 Walton Ave MARKET: Mott Haven, Bronx CITY: New York ASSET TYPE: Warehouse, Development Site PRICE: $16,800,000 SF: 31,760 BSF: 170,000 +/- SELLER: Abraham Fruchthandler (FBE Limited) BUYER: Doug Patrick (Heatherwood Communities) BROKERS: Nir Mor (@Nirmor5) and Daniel Rahmani, of Capital Property Partners

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$59,686.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$79,640.57
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