Updated Mar 17, 2025
Mega Construction Purchases Industrial Asset From Montefiore For $10.6M In Bronx
1776 Hoe Avenue
$10,600,000
$179/SF
Building Size
58,962 SF
Asset Type
Industrial
Closing
Mar 7, 2025
About this deal
AI
The property asset involved in this transaction is an industrial facility located at 1776 Hoe Avenue in the Bronx. The sale was finalized for a total of $10,600,000, encompassing a spacious area of 58,962 square feet, resulting in a price per square foot of $179.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,600,000
- Address: 1776 Hoe Avenue
- Market: Bronx
- Square Footage: 58,962
- Price per Square Foot: $179
- Buyer: Mega Construction
- Seller: Montefiore
- Brokers: Mark Weiss, Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield
The key individuals involved in this transaction include Mark Weiss, Jonathan Squires, Josh Neustadter, and Austin Weiner, who represented the brokerage firm Cushman & Wakefield in facilitating the sale between Mega Construction and Montefiore.
On the Map
$10,600,000
$179/SF
Industrial
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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
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93