Desai Real Estate Group Acquires Sedgwick Avenue Property In Bronx For $14.85M
2304 Sedgwick Avenue, Bronx, NY, USA
$14,850,000
$215/SF
Building Size
68,800 SF
Asset Type
Mixed-use
Closing
Dec 26, 2018
About this deal
AI
The property located at 2304 Sedgwick Avenue in Bronx was recently sold for a price of $14,850,000. The sale took place on 12/27/2018, and the buyer was Desai Real Estate Group LLC, represented by Dinesh Desai. The seller, Prana Investments, sold the property to the buyer through the assistance of broker Amit Doshi and Shallini Mehra from TeamDoshi. The property spans across 68,800 square feet, resulting in a price per square foot of $215.
Summary of transaction details
- Property Type: SALE
- Transaction Amount: $14,850,000
- Date: 12/27/2018
- Address: 2304 Sedgwick Avenue
- Market: Bronx
- Seller: Prana Investments
- Buyer: Desai Real Estate Group LLC - Dinesh Desai
- Broker: Amit Doshi & Shallini Mehra @TeamDoshi
- Square Footage: 68,800
- Price per Square Foot: $215
Dinesh Desai, representing Desai Real Estate Group LLC, played a key role as the buyer in this property transaction. The seller, Prana Investments, chose Amit Doshi and Shallini Mehra from TeamDoshi as their brokers. Together, they successfully executed the sale of this property at the negotiated price, resulting in a significant transaction in the Bronx real estate market.
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
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93