Updated Aug 12, 2026
Jorge Madruga Acquires Industrial Asset At 425 Devoe Avenue For $10,750,000 With Brokers Jason M. Gold, Sean R. Kelly, Esq. & Daniel Mahfar
425 Devoe Street
$10,750,000
Building Size
—
Asset Type
Industrial
Closing
Jul 28, 2026
About this deal
AI
The industrial property located at 425 Devoe Avenue in West Farms, Bronx has been sold for $10,750,000. The property features a total of 60,000 square feet above grade, translating to a price of $180 per square foot, along with an additional 30,000 square feet below grade.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,750,000
- Buyer: Jorge Madruga
- Seller: Ben Atkins
- Brokers: Jason M. Gold, Sean R. Kelly, Esq. & Daniel Mahfar - Ariel Property Advisors
Jason M. Gold, Sean R. Kelly, Esq., and Daniel Mahfar represented the transaction on behalf of Ben Atkins, the seller. The team has noted that there are additional similar assets currently being marketed and can be reached for further discussions.
On the Map
$10,750,000
Industrial
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Players
Bronx 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
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93