Updated Apr 3, 2025
Montefiore Sells Industrial Property At 1776 Hoe Avenue In Bronx For $10.6 Million With Buyer's Rep Pinnacle Realty Of New York
1776 Hoe Avenue
$10,600,000
$179/SF
Building Size
58,962 SF
Asset Type
Industrial
Closing
Mar 7, 2025
About this deal
AI
The asset involved in the transaction is an industrial property located at 1776 Hoe Avenue in the Bronx. The sale price for this property was $10,600,000, with a total square footage of 58,962, translating to a price per square foot of $179.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,600,000
- Address: 1776 Hoe Avenue
- Market: Bronx
- Square Footage: 58,962
- Price per Square Foot: $179
- Seller: Montefiore
- Buyer's Representatives: Ariel Castellanos, Federico Mazzeo, Paul Bralower & Brendan Burke - Pinnacle Realty of New York
Pinnacle Realty of New York was instrumental in procuring the purchaser through a 1031 exchange, facilitating a quick closing for the transaction.
On the Map
$10,600,000
$179/SF
Industrial
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Players
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
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93