Isaac Malekan Acquires Mixed-use Property On Prospect Avenue From Gurinder Singh In Foxhurst, Bronx
SOLD
$2,100,000
New York
See Similar DealsMixed-use10,838 SF
Sold 07/14/2020
SOLD
Isaac Malekan Acquires Mixed-use Property On Prospect Avenue From Gurinder Singh In Foxhurst, Bronx
1066 Prospect Ave, The Bronx, NY 10459, USA
See Similar DealsMixed-use10,838 SF
Sold 07/14/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$193
Total Square Footage:10,838 SF
Transaction Type:Sale
A mixed-use property located at 1066 Prospect Avenue in the Foxhurst neighborhood of Bronx has been sold in a closed transaction. The property spans across 10,838 square feet and includes a total of 5 units. The asking price for this property was $2,500,000, and it was eventually sold for $2,100,000, which translates to a price per square foot of $194. The deal was finalized on July 14, 2020.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,100,000
- Square Footage: 10,838
- Asking Price: $2,500,000
- Price per Square Foot: $194
Gurinder Singh, the seller of the property, entered into an agreement with Isaac Malekan, who became the new owner. The deal was facilitated by Richard Torres and Cayce Ortale, who represent RAS Equity Partners in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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