Updated Oct 29, 2024
Innovo Property Group Secures $43.4M Construction Loan For Industrial Property In Hunts Point
1100 Leggett Avenue, The Bronx, New York 10474, United States
$43,400,000
$748,275/SF
Building Size
58 SF
Asset Type
Industrial
Closing
Mar 8, 2022
About this deal
AI
An industrial property located at 1100 Leggett Avenue in Hunts Point has been involved in a loan transaction. The property spans 58,950 square feet and is classified as an industrial asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $43,400,000
- Address: 1100 Leggett Avenue
- Market: Hunts Point
- Loan Type: Construction
The loan for this transaction was provided by Innovo Property Group, with Andrew Chung acting as the representative. The lender, PCCP, was represented by Brian Haber. The brokers involved in the deal were Chris Peck and Pete Rotchford from JLL.
On the Map
$43,400,000
$748,275/SF
Industrial
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Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93