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2150 Creston Ave, The Bronx...

Prana Investment Acquires Mixed-Use Property In Bronx For $12.9M
SOLDMixed-use

Prana Investment Acquires Mixed-Use Property In Bronx For $12.9M

2150 Creston Ave, The Bronx, NY 10453, USA

Building Size

607,140 SF

Asset Type

Mixed-use

Closing

Mar 7, 2018

AI

2150 Creston Avenue is a mixed-use property located in the Bronx, New York. The property was sold for $12,900,000, with a total area of 60,714 square feet. The price per square foot for this transaction was $212. The property consists of 54 units, with an average price per unit of $238,000.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $12,900,000
  • Square Footage: 60,714
  • Price Per Square Foot: $212
  • Number of Units: 54
  • Price Per Unit: $238,000

Prana Investment, represented by Neil McKinnon, acquired the property. Prana Investment is one of the most active buyers in the Bronx and is based in California.

Please note that PRANA, which is based in Cali, is one of the most active buyers in the Bronx.

Players

Neil McKinnon

Buyer

3 deals

Buyer

Jacob Landau

Seller

$58.6M

vol

3 deals

Seller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93