Real Term Logistics Acquires Industrial Property In Bronx For $115M
SOLD
$115,000,000
+ 1
New York
See Similar DealsIndustrial351,000 SF
Sold 12/21/2018
SOLD
Real Term Logistics Acquires Industrial Property In Bronx For $115M
1500 Bassett Avenue, Bronx, NY, USA
See Similar DealsIndustrial351,000 SF
Sold 12/21/2018
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$327
Total Square Footage:351,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$408,570.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$545,158.67
Annual Debt Service$6,541,904.04
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