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2359 Grand Concourse, Bronx...

Joseph Dimyan Acquires Mixed-Use Property On Grand Concourse In Bronx For $6.5M
SOLDMixed-use

Joseph Dimyan Acquires Mixed-Use Property On Grand Concourse In Bronx For $6.5M

2359 Grand Concourse, Bronx, NY 10468, USA

$6,500,000

$307/SF

Building Size

21,176 SF

Asset Type

Mixed-use

Closing

Sep 27, 2021

AI

Located in the Bronx, the mixed-use property at 2359-2371 Grand Concourse has recently been sold in a transaction. The sale was facilitated by brokers Aaron Jungreis & Ben Khakshoor from RosewoodRG. The property spans a total of 21,176 square feet and is situated in a bustling market. The transaction took place on September 27, 2021, with a sale price of $6,500,000. The price per square foot (PPSF) for this sale is $306.

Summary of Transation Details

  • Property Type: Mixed-use
  • Transaction Amount: $6,500,000
  • Square Footage: 21,176
  • Market: Bronx

Joseph Dimyan is the buyer of the property, while Ron Rettner is the seller. Aaron Jungreis & Ben Khakshoor, representing RosewoodRG, served as the brokers for this transaction.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.4B

vol

207 deals

Broker

Ron Rettner

Seller

$61.2M

vol

6 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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93