Turnbridge Equities Acquires Industrial Property In Hunts Point For $15.25M
SOLD
$5,400,000
New York
See Similar DealsIndustrial10,000 SF
Sold 04/01/2020
SOLD
Turnbridge Equities Acquires Industrial Property In Hunts Point For $15.25M
1190 E 156th St, The Bronx, NY 10474, USA
See Similar DealsIndustrial10,000 SF
Sold 04/01/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$540
Total Square Footage:10,000 SF
Transaction Type:Sale
The industrial property located at 1173 & 1175 Leggett Avenue in Hunts Point has been sold in a transaction worth $15,250,000. The property spans a total square footage of 26,150, with a price per square foot of $583. The buyer of the property is Turnbridge Equities, represented by Ryan Nelson, while the seller is Easco Boiler Corp, represented by Tyren Eastmond.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,250,000
- BSF: 101,168
- PPBSF: $150
- SF: 26,150
- PPSF: $583
Ryan Nelson from Turnbridge Equities and Tyren Eastmond from Easco Boiler Corp played integral roles in this transaction. This sale marks another successful deal in the industrial market of Hunts Point, showcasing the active nature of real estate investments in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$288,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06
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