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450 Timpson Place

Updated Oct 29, 2024

SOLDIndustrial

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

Richard MacDougall

Breslin Realty

Broker

$19M

vol

1 deal

Broker
AG
Altmark GroupSeller

New York City Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $447 per square foot on a published $19M for 42,500 square feet (2023).

Visit Breslin Realty to view all their deals.

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

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