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2809 3rd Avenue, Bronx, NY ...

Jonathan Moinian Acquires Mixed-use Property In Bronx From Steven Kachanian, Jacob Namdar, & Adam Hajibai
SOLDMixed-use

Jonathan Moinian Acquires Mixed-use Property In Bronx From Steven Kachanian, Jacob Namdar, & Adam Hajibai

2809 3rd Avenue, Bronx, NY 10455, USA

$3,150,000

$434/SF

Building Size

7,250 SF

Asset Type

Mixed-use

Closing

Feb 1, 2019

AI

A mixed-use property located at 2809 3rd Ave. in Bronx has been sold for $3,150,000. The property spans 7,250 square feet, resulting in a price per square foot of $434. It consists of retail space and six residential units, with a price per unit of $450,000.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,150,000
  • Square Footage: 7,250
  • Price per Square Foot: $434
  • Units: Retail + 6 Residential
  • Price per Unit: $450,000

The transaction involved several key individuals and companies. The sellers were Steven Kachanian, Jacob Namdar, and Adam Hajibai from Klosed Properties. The buyers were Jonathan Moinian from New York Standard and Eli Dadouch from Firm Capital. The broker for the deal was Josh Banilivy from Friedman Roth, and the attorney involved was Dan Rothman from Rothman Law.

Players

Joshua Banilivy

Friedman-Roth Realty

Broker

$5.8M

vol

3 deals

Broker
Adam Hajibai

Adam Hajibai

Klosed Properties

Seller

$76.1M

vol

21 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

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93