Benjamin Garcia Acquires Industrial Property In Hunts Point, Bronx For $2.8M
SOLD
$2,800,000
New York
See Similar DealsIndustrial10,800 SF
Sold 11/20/2023
SOLD
Benjamin Garcia Acquires Industrial Property In Hunts Point, Bronx For $2.8M
1161 East 156th Street
See Similar DealsIndustrial10,800 SF
Sold 11/20/2023
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$259
Total Square Footage:10,800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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