City Storage Systems Acquires Belmont Industrial Property For $2.05M
SOLD
$2,050,000
New York
See Similar DealsIndustrial11,900 SF
Sold 04/30/2020
SOLD
City Storage Systems Acquires Belmont Industrial Property For $2.05M
2368 Hoffman St, The Bronx, NY 10458, USA
See Similar DealsIndustrial11,900 SF
Sold 04/30/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$172
Total Square Footage:11,900 SF
Transaction Type:Sale
The industrial property located at 2368 Hoffman Street in Belmont has been sold for a price of $2,050,000. The property spans across 11,900 square feet, resulting in a price per square foot of $172. The transaction was finalized on April 30, 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,050,000
- Address: 2368 Hoffman Street
- Market: Belmont
The buyer of the property is City Storage Systems, represented by Travis Kalanick. On the other hand, Stonehill Holdings, represented by David Steinberg, acted as the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$109,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55
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