Cubesmart Acquires Industrial Property In Mott Haven For $9.5M
255 Exterior Street, The Bronx, NY 10451, USA
$9,500,000
$77/SF
Building Size
122,365 SF
Asset Type
Industrial
Closing
Jul 19, 2020
AI
Cubesmart has acquired the ground lease on 255 Exterior Street in the Mott Haven market of New York City's industrial sector. The property, spanning 122,365 square feet, was sold for a price of $9,500,000, resulting in a price per square foot of $77. The seller in this transaction was ABS Partners Real Estate.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $9,500,000
- Address: 255 Exterior Street
- Market: Mott Haven
Cubesmart's acquisition of the ground lease was facilitated by their representative from ABS Partners Real Estate.
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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93