Updated Dec 18, 2023
Matt Phillips Acquires Industrial Property In Highbridge For $4.35M
1414 Cromwell Ave, Highbridge, The Bronx, NY
$4,350,000
$162/SF
Building Size
26,787 SF
Asset Type
Industrial
Closing
Feb 17, 2021
About this deal
AI
A industrial property located at 1414 Cromwell Ave. in Highbridge has been sold for $4,350,000. The property spans 26,787 square feet, resulting in a price per square foot of $162. The transaction took place on February 17, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,350,000
- Address: 1414 Cromwell Ave.
- Market: Highbridge
The buyer of the industrial property was Matt Phillips, while Ron Klausner acted as the seller. Representing the buyer was Jason M. Gold from JGold_Real_Estate, and Daniel Mahfar from DMahfar_Real_Estate and Ariel Pa.NYC. This transaction, involving Jason M. Gold and Daniel Mahfar as brokers, marks a significant deal in Highbridge's industrial 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
3.65%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93