Updated Oct 29, 2024
Real Term Logistics Acquires Industrial Property In Bronx For $115M
1500 Bassett Avenue, Bronx, NY, USA
$115,000,000
$327/SF
Building Size
351,000 SF
Asset Type
Industrial
Closing
Dec 20, 2018
About this deal
AI
Real Term Logistics has acquired an industrial property located at 1500 Bassett Avenue in Bronx. The property spans approximately 351,000 square feet and was sold for a total price of $115,000,000, leading to a price per square foot of $327. The sale was finalized on December 21, 2018.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $115,000,000
- Square Footage: 351,000
- Address: 1500 Bassett Avenue, Bronx
- Seller: Mitchell Modell
- Buyer: Real Term Logistics
- Brokers: Brad Cohen, Jacob Tzfanya, Jon Kamali (CBRE)
Mitchell Modell acted as the seller for this transaction, while Real Term Logistics emerged as the buyer. The deal was facilitated by Brad Cohen, Jacob Tzfanya, and Jon Kamali from CBRE, representing both parties involved.
On the Map
$115,000,000
$327/SF
Industrial
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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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93