Updated Nov 15, 2023
Alex Gill Acquires Industrial Properties In Morrisania For $8.6M
1049 Washington Avenue Bronx, New York 10456, Usa
$8,600,000
$697/SF
Building Size
12,337 SF
Asset Type
Industrial
Closing
Jun 7, 2023
About this deal
AI
Alex Gill has purchased three industrial buildings in Morrisania, Bronx, for a total of $8.6 million. The properties located at 1049 Washington Avenue, 439 East 165th Street, and 1037 Washington Avenue have a combined built space of 12,337 square feet and additional air rights, resulting in a total buildable area of 93,334 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,600,000
- Square Footage: 12,337
- Price per Square Foot: $697
- Address: 1049 Washington Avenue, 439 East 165th Street, 1037 Washington Avenue
- Market: Morrisania, Bronx
The buyer, Alex Gill, has successfully acquired these industrial buildings. The seller in this transaction was Zalman Bernstein.
Players
Washington Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93