Verv Capital, Chera Realty, KSR Acquire Mixed-Use Asset In Mount Hope, Bronx For $9.85M
101 East Burnside Avenue, The Bronx, New York 10453, United States
$9,850,000
$405/SF
Building Size
24,316 SF
Asset Type
Mixed-use
Closing
May 9, 2022
About this deal
AI
Located at 101-109 East Burnside Ave. & 2054-2062 Morris Ave. in Mount Hope, Bronx, this mixed-use property was recently sold for a price of $9,850,000. The property spans an area of 24,316 square feet and has a price per square foot of $405. The transaction took place on May 10, 2022.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $9,850,000
- Address: 101-109 East Burnside Ave. & 2054-2062 Morris Ave., Mount Hope, Bronx
- Area: 24,316 square feet
- Price per Square Foot: $405
- Buyer: Verv Capital - Edward Cohen, Chera Realty - Jeffrey Chera & Ralph Chera & KSR - Morris Sabbagh, Abraham Kassin & Ceasar Salamaa
- Seller: Vanbarton Group
- Brokers: Jason M. Gold & Victor Sozio - Ariel Property Advisors
The deal was facilitated by brokers Jason M. Gold and Victor Sozio from Ariel Property Advisors. The buyer involved in the transaction was represented by Verv Capital's Edward Cohen, Chera Realty's Jeffrey Chera & Ralph Chera, and KSR's Morris Sabbagh, Abraham Kassin & Ceasar Salamaa. The seller of the property was the Vanbarton Group.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93