Benjamin Garcia Acquires Industrial Property In Hunts Point, Bronx For $2.8M
1161 East 156th Street
$2,800,000
$259/SF
Building Size
10,800 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
An industrial property located at 1161 East 156th Street in the Hunts Point market of Bronx has been sold for $2,800,000. The property spans 15,000 square feet, resulting in a price per square foot of $187.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,800,000
- Square Footage: 15,000
- Address: 1161 East 156th Street, Bronx
- Market: Hunts Point
The buyer of the property is Benjamin Garcia, while the seller is Chris Boyle & Co. Ariel Castellanos and Federico Mazzeo from Pinnacle Realty acted as the brokers in this transaction.
Federico Mazzeo and Ariel Castellanos, from Pinnacle Realty, successfully facilitated the sale of this challenging industrial loft building in the Hunts Point market.
Players
Bronx 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93