Sitex Group Acquires Industrial Property On Commerce Avenue In Parkchester For $5.1M
SOLD
$5,100,000
New York
See Similar DealsIndustrial257,800 SF
Sold 08/05/2020
SOLD
Sitex Group Acquires Industrial Property On Commerce Avenue In Parkchester For $5.1M
1157 Commerce Ave, The Bronx, NY 10462, USA
See Similar DealsIndustrial257,800 SF
Sold 08/05/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$19
Total Square Footage:257,800 SF
Transaction Type:Sale
The industrial property located at 1157 Commerce Avenue in Parkchester, Bronx has been sold in a closed transaction on August 5, 2020. The property, which falls under the M1-1 zoning category, boasts a lot size measuring 288.78 feet by 206.13 feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,100,000
- Square Footage: 25,780
- Price per Square Foot: $197
- Building Square Footage: 35,751
- Price per Building Square Foot: $142
- Market: Parkchester, Bronx
The buyer of this industrial property is the Sitex Group, while the seller is the Estate of Marco Eugene. The transaction reflects the strong demand and activity in the Parkchester market for industrial assets.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$271,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22
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