Peter Mestousis Acquires Industrial Property In Bronx For $1.25M
SOLD
$1,250,000
New York
See Similar DealsIndustrial4,514 SF
Sold 06/10/2021
SOLD
Peter Mestousis Acquires Industrial Property In Bronx For $1.25M
662 Hunts Point Avenue, Bronx, NY, USA
See Similar DealsIndustrial4,514 SF
Sold 06/10/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$276
Total Square Footage:4,514 SF
Transaction Type:Sale
A industrial property located at 662 Hunts Point Avenue in Bronx has been sold. The property spans 4,514 square feet with a sale price of $1,250,000, reflecting a price per square foot of $277. The transaction took place on June 10th, 2021. The property was sold at a cap rate of 6.5%.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,250,000
- Address: 662 Hunts Point Avenue, Bronx
- Square Footage: 4,514
- Market: Bronx
The buyer of the property is Peter Mestousis, while Dominic Ferrovecchio served as the seller. The transaction was facilitated by Sasha Mejia and Abass Braimah, representatives from @RASEquityPartners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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