Marc & Richard Pogostin Acquire Industrial Property In Baychester, Bronx For $3.25M
SOLD
$3,250,000
New York
See Similar DealsIndustrial17,195 SF
Sold 05/08/2020
SOLD
Marc & Richard Pogostin Acquire Industrial Property In Baychester, Bronx For $3.25M
1476 E 222nd St, The Bronx, NY 10469, USA
See Similar DealsIndustrial17,195 SF
Sold 05/08/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$189
Total Square Footage:17,195 SF
Transaction Type:Sale
The industrial property located at 1476 East 222nd Street in Baychester, Bronx has been sold in a closed transaction. The property spans 17,195 square feet and was sold for a price of $3,250,000, resulting in a price per square foot of $189. The property was originally listed for $3,600,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,250,000
- Address: 1476 East 222nd Street
- Market: Baychester, Bronx
The seller of the property was Ted Edwards, while the buyers were Marc & Richard Pogostin. The transaction was facilitated by Addison Berniker and Jonathan Squires from CushWake.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90
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