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820 E 141st St, The Bronx, ...

Westrock Development Acquires Industrial Property In Mott Haven For $8.3M
SOLDIndustrial

Westrock Development Acquires Industrial Property In Mott Haven For $8.3M

820 E 141st St, The Bronx, NY 10454, USA

$8,324,000

$128/SF

Building Size

65,000 SF

Asset Type

Industrial

Closing

Oct 28, 2020

AI

Westrock Development, represented by Jason Friedland, has acquired an industrial property located at 820 E. 141st St. in the Mott Haven neighborhood. The property, zoned as M3-1, spans 65,000 square feet and was sold for $8,324,000. With a price per square foot of $128, this transaction reflects the ongoing demand for industrial assets in the area.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $8,324,000
  • Address: 820 E. 141st St.
  • Market: Mott Haven
  • Asset Type: Industrial
  • Zoning: M3-1
  • BSF: 65,000
  • Price per Square Foot: $128

This acquisition was facilitated by Westrock Development, a prominent real estate firm, with Jason Friedland acting as their representative. They purchased the property from Deep Draw Silver Inc., represented by David Haber. The deal highlights the strategic mindset of Westrock Development as they expand their industrial property portfolio in Mott Haven.

Players

Jason Friedland

Westrock Development

Buyer

$15.1M

vol

2 deals

Buyer

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

1.91%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93