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2320 Hughes Avenue, Bronx, ...

Klosed Properties Acquires Mixed-use Property In Bronx For $1.875M
SOLDMixed-use

Klosed Properties Acquires Mixed-use Property In Bronx For $1.875M

2320 Hughes Avenue, Bronx, NY 10458, USA

$1,875,000

$258/SF

Building Size

7,250 SF

Asset Type

Mixed-use

Closing

Jan 22, 2019

AI

A mixed-use property located at 2320 Hughes Ave. in the Bronx was recently sold for a total of $1.875 million. The property spans 7,250 square feet and has a price per square foot of $259. It consists of two commercial units and six residential units.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $1.875M
  • Address: 2320 Hughes Ave.
  • Market: Bronx
  • Square Footage: 7,250
  • Price Per Square Foot: $259
  • Units: 2 Comm. + 6 Resi.

The buyer of this property was Steven Kachanian, Jacob Namdar, and Adam Hajibai of Klosed Properties. The seller was Susan Sahim. The deal was facilitated by brokers Shawn Sadaghati and Zachary Fuchs from GFI.

Players

Shawn Sadaghati

Broker

$48.8M

vol

6 deals

Broker
Adam Hajibai

Adam Hajibai

Klosed Properties

Buyer

$76.1M

vol

21 deals

Buyer

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

8.46%

Cash-on-Cash

-2.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93