Updated Oct 29, 2024
Acquires Industrial Property In Bronx - Port Morris From Altmark Group For $19M
450 Timpson Place
$19,000,000
$447/SF
Building Size
42,500 SF
Asset Type
Industrial
Closing
Jan 4, 2023
About this deal
AI
The industrial property located at 450 Timpson Place in Bronx - Port Morris was recently sold in a transaction valued at $19,000,000. The property spans 42,500 square feet, resulting in a price per square foot of $447. The buyer of the property was , while the seller was Altmark Group. The deal was facilitated by Richard MacDougall from Breslin Realty.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $19,000,000
- Square Footage: 42,500
- Price Per Square Foot: $447
- Buyer:
- Seller: Altmark Group
- Broker: Richard MacDougall - Breslin Realty
The Altmark Group, the seller in this transaction, had originally purchased the property for $10,100,000. They are actively seeking acquisition and lending opportunities in the Bronx, Palm Beach County, as well as the five boroughs and Lower Westchester. For any opportunities, interested parties can contact Altmark Group at [email protected].
Players
New York City 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93