Updated Apr 3, 2025
Storage Post Acquires Bronx Industrial Property On E. 166th Street For $4M
428 East 166th Street, The Bronx, New York 10456, United States
$4,000,000
$183/SF
Building Size
21,818 SF
Asset Type
Industrial
Closing
Feb 28, 2022
About this deal
AI
The subject property involved in the transaction is a half acre (approx.), paved & fenced parking lot located at 428 E. 166th Street in the Bronx. The property falls under the industrial asset type category. The deal was closed on 03/01/2022 with a sale price of $4,000,000. The property spans across 21,818 square feet and the price per square foot comes out to be $183. The buyer in this transaction was Storage Post, while the seller was Wildflower LTD. The brokers representing the deal were Andreas Efthymiou and Stephen R. Preuss Sr. from Ripco.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $4,000,000
- SF: 21,818
- PPSF: $183
- Address: 428 E. 166th Street
- Market: Bronx
It is important to note that the subject property was on a short term lease to Amazon at the time of the transaction. This deal involved key individuals such as Andreas Efthymiou and Stephen R. Preuss Sr. from Ripco, who represented the buyer and seller respectively.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93