Westrock Development Acquires Industrial Property In Mott Haven For $8.3M
SOLD
$8,324,000
New York
See Similar DealsIndustrial65,000 SF
Sold 10/29/2020
SOLD
Westrock Development Acquires Industrial Property In Mott Haven For $8.3M
820 E 141st St, The Bronx, NY 10454, USA
See Similar DealsIndustrial65,000 SF
Sold 10/29/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$128
Total Square Footage:65,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$443,946.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,573.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,460.01
Annual Debt Service$473,520.08
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