Updated Oct 29, 2024
Verizon Acquires Industrial Property In Castle Hill, Bronx For $21M
470 Zerega Avenue, The Bronx, New York 10473, United States
$21,000,000
$1,750,000/SF
Building Size
12 SF
Asset Type
Industrial
Closing
Nov 17, 2022
About this deal
AI
Verizon has acquired a portfolio of industrial properties in Castle Hill, Bronx. The properties on 470, 480, 502, and 500 Zerega Avenue have been sold by Del Balso Construction Corporation for a total transaction amount of $21,000,000. The industrial assets encompass a total building square footage of 202,190, with an average price per square footage of $104. The individual building size for this transaction is 12,800 square feet, with a price per square footage of $1,641.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,000,000
- Address: 470, 480, 502 & 500 Zerega Avenue
- Market: Castle Hill, Bronx
Megan L. Ust, representing Verizon, acted as the buyer, while Peter C. Marron, from Del Balso Construction Corporation, represented the seller in this transaction.
On the Map
$21,000,000
$1,750,000/SF
Industrial
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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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93