Updated Oct 29, 2024
Domain Companies Acquires Industrial Property In Mott Haven For $12.23M
444 Gerard Avenue, West Bronx, The Bronx, NY, USA
$12,230,000
$175/SF
Building Size
69,832 SF
Asset Type
Industrial
Closing
Dec 30, 2020
About this deal
AI
The industrial property located at 444 Gerard Avenue in Mott Haven was recently sold for a price of $12,230,000. The property has a total square footage of 69,832, with a price per square foot of $175. It features a lot size of 100.17 ft x 118.08 ft and falls under the zoning categories of M1-4/R8A and MX-13. The sale took place on December 31, 2020, with the buyer being Domain Companies, represented by Matthew Schwartz, and the seller being Douglas Halman.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,230,000
- Address: 444 Gerard Avenue
- Market: Mott Haven
- Zoning: M1-4/R8A, MX-13
Matthew Schwartz, representing Domain Companies, played a key role as the buyer in this transaction. On the other hand, Douglas Halman acted as the seller. The property had undergone full demolition permits in August 2020.
On the Map
$12,230,000
$175/SF
Industrial
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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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93