Updated Dec 4, 2024
Innovo Property Group Acquires Industrial Asset In Hunts Point For $21.5M
1100 Leggett Avenue, The Bronx, New York 10474, United States
$21,500,000
$364/SF
Building Size
58,950 SF
Asset Type
Industrial
Closing
Jul 25, 2022
About this deal
AI
The industrial property located at 1100 Leggett Avenue in Hunts Point has been sold for $21,500,000. Spread across 59,889 square feet, the property was acquired by Innovo Property Group from Metro Office Furniture Rental. With a price per square foot of $358, this transaction marks a significant sale in the industrial market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $21,500,000
- Address: 1100 Leggett Avenue
- Market: Hunts Point
- Buyer: Innovo Property Group
- Seller: Metro Office Furniture Rental
- Square Footage: 59,889
- Price per Square Foot: $358
Andrew Chung captured the image associated with this transaction. The deal between Innovo Property Group and Metro Office Furniture Rental was finalized on 07/26/2022. This sale adds to the success of Innovo Property Group's investment portfolio and marks a significant transaction in the Hunts Point industrial market.
Players
New York 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93