RJ Block Properties Acquires Mixed-Use Property In Morris Heights, Bronx For $8.04M
SOLD
$8,040,000
New York
See Similar DealsMixed-use59,516 SF
Sold 10/08/2021
SOLD
RJ Block Properties Acquires Mixed-Use Property In Morris Heights, Bronx For $8.04M
1893 Andrews Avenue South, Morris Heights, Bronx, NY 10453, USA
See Similar DealsMixed-use59,516 SF
Sold 10/08/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$135
Total Square Footage:59,516 SF
Transaction Type:Sale
The mixed-use property located at 1893 Andrews Avenue South in Morris Heights, Bronx, was recently sold for a total price of $8,040,000. The property spans a total of 59,516 square feet, resulting in a price per square foot of $135. The transaction took place on October 8, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,040,000
- Address: 1893 Andrews Avenue South
- Market: Morris Heights, Bronx
- Zoning: R5, C2-4
The buyer, RJ Block Properties, acquired the property from Galaxy General Contracting Corporation. The sale was facilitated by Shallini Mehra & Amit Doshi from the Meridian Capital Group, who represented both parties in the transaction.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$428,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,564.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,113.70
Annual Debt Service$457,364.42
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