Andrew Chung & Graham Stephens Acquire Industrial Property In Hunts Point For $92.5M
SOLD
$92,500,000
+ 1
New York
See Similar DealsIndustrial67,000 SF
Sold 06/04/2020
SOLD
Andrew Chung & Graham Stephens Acquire Industrial Property In Hunts Point For $92.5M
1110 Oakpoint Avenue, Bronx, NY 10474
See Similar DealsIndustrial67,000 SF
Sold 06/04/2020
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,380
Total Square Footage:67,000 SF
Transaction Type:Sale
Located at 1110 Oak Point Avenue in Hunts Point, this industrial property spans approximately 9 acres. The transaction took place on 06/04/2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $92,500,000
- Last Sale Price: $24,000,000 (4/2016)
Andrew Chung and Graham Stephens acquired the property from Pearl Realty Management, represented by Joshua and Jack Guttman. The transaction was facilitated by David Junik from Pinnacle Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$328,632.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$438,497.19
Annual Debt Service$5,261,966.30
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