Updated Oct 29, 2024
Luca DiCiero & Faisal Gilani Acquire Industrial Property In Mott Haven For $19 Rent
2520 Park Ave, The Bronx, NY 10451, USA
Building Size
87,500 SF
Asset Type
Industrial
Closing
Jan 29, 2020
About this deal
AI
2520 Park Avenue, located in Mott Haven, was recently involved in a closed industrial property transaction. The property spans an area of 8,750 square feet and was leased to AGA Redemption. The estate of Charlie Mavros acted as the landlord in this deal. The brokers, Luca DiCiero and Faisal Gilani from NYSpaceFinders, represented the parties involved in the transaction. The asking rent for this property was $19 per square foot. It is worth noting that the property was previously occupied by Sin City Cabaret.
Summary of transaction details
- Property Type: Industrial
- Address: 2520 Park Avenue
- Market: Mott Haven
- Tenant: AGA Redemption
- Landlord: Estate of Charlie Mavros
- Brokers: Luca DiCiero & Faisal Gilani @NYSpaceFinders
- Asking Rent: $19
- Square Footage: 8,750
The deal's key individuals involved in this transaction were Luca DiCiero and Faisal Gilani from NYSpaceFinders. They successfully represented the tenant and landlord respectively, ensuring the completion of the deal. This closed industrial property transaction showcases the expertise and negotiation skills of these real estate professionals.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93