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Michael Ambrosi & Gary S Baumann Acquire Mixed Use Property In Unionport, Bronx For $16.1M

Property Image
SOLD
$16,106,000

New York

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Mixed-use29,819 SF
Sold 11/10/2021
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Property Image
SOLD

Michael Ambrosi & Gary S Baumann Acquire Mixed Use Property In Unionport, Bronx For $16.1M

2244 Westchester Avenue, The Bronx, New York 10462, United States

See Similar Deals
Mixed-use29,819 SF
Sold 11/10/2021
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$540
Total Square Footage:29,819 SF
Transaction Type:Sale

A mixed-use property located at 2244, 2246, and 2248 Westchester Avenue in Unionport, Bronx has been sold in a recent transaction. The property is situated on a lot size of 36,750 square feet and features zoning classifications of R5, C2-2, and C1-2. The sale took place on November 10, 2021, and the buyers were Michael Ambrosi and Gary S Baumann. The seller of the property was Carlos P Naudon.

Summary of transation details

  • Property Type: Mixed Use
  • Transaction Amount: $16,106,000
  • Building Square Footage: 48,263
  • Price per Building Square Foot: $334
  • Lot Square Footage: 29,819
  • Price per Square Foot: $540
  • Floor Area Ratio (FAR): 0.81
  • Tax Class: 4
  • Last Sale Price: $0 (08/12/1998)
  • Lot Dimensions: 306.5 ft x 125 ft

Notable factors about the deal include the buyers, Michael Ambrosi and Gary S Baumann, who acquired the property. The transaction represents the successful negotiation between the buyers and the seller, Carlos P Naudon. The property's characteristics provide potential for mixed-use development, with the zoning classifications allowing flexibility in the types of businesses that can be established.

Players

2 deals$27.9M volume
SELLER

Details

SOLD
IMAGE: 11/10/2021 ADDRESS: 2244, 2246 & 2248 Westchester Avenue MARKET: Unionport, Bronx ASSET TYPE: Mixed Use ~ ZONING: R5, C2-2, C1-2 BUYER: Michael Ambrosi & Gary S Baumann SELLER: Carlos P Naudon PRICE: $16,106,000 BSF: 48,263 ~ PPBSF: $334 SF: 29,819 ~ PPSF: $540 FAR: 0.81 TAX CLASS: 4 LOT SIZE: 36,750 LAST SALE PRICE: $0 (08/12/1998) LOT DIMENSION: 306.5 ft x 125 ft

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$57,221.21
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