Updated Oct 29, 2024
Abingdon Square Partners Acquires Bronx Warehouse For $12.5M
425 Devoe Avenue, The Bronx, NY, USA
$12,500,000
$138/SF
Building Size
90,000 SF
Asset Type
Industrial
Closing
Jan 24, 2018
About this deal
AI
A warehouse in the Bronx has been sold for $12,500,000. Located at 425-449 Devoe Avenue, the property spans a total of 90,000 square feet, resulting in a price per square foot of $139. The combined lot size is approximately 56,990 square feet. The transaction took place on January 25, 2018.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $12,500,000
- Address: 425-449 Devoe Avenue, Bronx, New York
- Market: Bronx
- Square Footage: 90,000 sf
- Price per Square Foot: $139
- Combined Lot Size: ±56,990 SF
The seller of the warehouse was Anthony Guarino, while the buyer was Abingdon Square Partners represented by Benjamin Atkins. The deal was facilitated by brokers Ben Biberaj and Jacob Tzfanya from Eastern Consolidated.
On the Map
$12,500,000
$138/SF
Industrial
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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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93