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2520 Park Ave, The Bronx, N...

Updated Oct 29, 2024

Luca DiCiero & Faisal Gilani Acquire Industrial Property In Mott Haven For $19 Rent
SOLDIndustrial

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

Faisal Gilani

NY Space Finders

Broker

$27.4M

vol

46 deals

Broker

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

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