Updated Dec 21, 2023
Dr. Craig Title Acquires Hunts Point Industrial Property On Spofford Avenue For $1.65M
1365 Spofford Ave, The Bronx, NY 10474, USA
$1,650,000
$330/SF
Building Size
5,000 SF
Asset Type
Industrial
Closing
Aug 18, 2019
About this deal
AI
An industrial property located at 1365 Spofford Avenue in Hunts Point has been sold in a closed transaction. The property spans 5,000 square feet and was sold for $1,650,000, which translates to a price per square foot of $330. The transaction was finalized within a short period of 10 days.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,650,000
- Address: 1365 Spofford Avenue
- Market: Hunts Point
Pam Divita was the seller of the property, while Dr. Craig Title emerged as the buyer. The transaction was facilitated by Ariel A. Castellanos and Federico Mazzeo, who served as the brokers on behalf of both parties involved.
Players
New York 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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93