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Criterion Group Acquires Industrial Building In Bronx For $16M

Property Image
SOLD
$16,000,000

New York

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Industrial30,050 SF
Sold 04/26/2023
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SOLD

Criterion Group Acquires Industrial Building In Bronx For $16M

1066 Zerega Ave, Bronx, NY 10462, USA

See Similar Deals
Industrial30,050 SF
Sold 04/26/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$532
Total Square Footage:30,050 SF
Transaction Type:Sale

Criterion Group's 1066 Zerega Avenue Industrial LLC has purchased an industrial building in Unionport, the Bronx, from Zerega Six Star LLC, for $16 million. The property, located at 1066 Zerega Avenue, has a total built space of 30,050 square feet and additional air rights of 127,713 square feet, making the total buildable area 155,748 square feet. The sale price per square foot of the built space is $532.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $16,000,000
  • Buyer: Criterion Group - Yung Ching Siu
  • Seller: Beth Siegel
  • BSF (Built Square Footage): 155,748
  • PPBSF (Price per Built Square Foot): $103
  • SF (Square Footage): 30,050
  • PPSF (Price per Square Foot): $532

In this transaction, the buyer, Criterion Group, was represented by Yung Ching Siu from their team. Beth Siegel acted as the seller in the deal.

Players

Yung Ching Siu
Criterion Group
Yung Ching Siu
4 deals$57.9M volume
BUYER

Details

SOLD
IMAGE: Yung Ching Siu DATE: 04/25/2023 ADDRESS: 1066 Zerega Avenue MARKET: Bronx ASSET TYPE: Industrial BUYER: Criterion Group (@Criterion_Group) - Yung Ching Siu SELLER: Beth Siegel SALE PRICE: $16,000,000 BSF: 155,748 ~ PPBSF: $103 SF: 30,050 ~ PPSF: $532 NOTE: Criterion Group's 1066 Zerega Avenue Industrial LLC has purchased an industrial building in Unionport, the Bronx, from Zerega Six Star LLC, for $16 million. The property, located at 1066 Zerega Avenue, has 30,050 square feet of built space and 127,713 square feet of additional air rights for a total buildable of 155,748 square feet, with the sale price per built square foot at $532.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95