Updated May 27, 2025
Kyung Park Leases Industrial Space To Alex Chan At 431 Southern Boulevard Bronx For $22/ft
431 Southern Boulevard
$22
$22/SF
Building Size
20,217 SF
Asset Type
Industrial
Closing
May 21, 2025
About this deal
AI
This industrial property, located at 431 Southern Boulevard in the Bronx, features a total square footage of 20,217. The property has been leased under a NNN lease with an asking rent of $22 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $22/ft
- Lease Type: NNN Lease
- Landlord: Kyung Park
- Tenant: Alex Chan
- Broker: Joey Kafif - Safdie Realty Group
- Date of Transaction: 5/22/2025
Joey Kafif from Safdie Realty Group represented the landlord and tenant in this lease transaction. Safdie Realty Group specializes in landlord and tenant representation across Brooklyn, Bronx, Manhattan, Queens, and Staten Island.
On the Map
$22
$22/SF
Industrial
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Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
721045.45%
Cash-on-Cash
-206077.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93