Russel Fridman's AJ Partners Acquires Mixed-Use Property In Bronx's Pelham Bay For $2.9M
2931 Westchester Ave, The Bronx, NY 10461, USA
$2,900,000
$211/SF
Building Size
13,700 SF
Asset Type
Mixed-use
Closing
Oct 22, 2019
AI
The mixed-use property located at 2931 Westchester Avenue in Bronx, Pelham Bay has been sold in a closed transaction. The property was sold for $2,900,000. It spans approximately 13,700 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,900,000
- Address: 2931 Westchester Avenue
- Market: Bronx, Pelham Bay
The seller of the property was Anthony Scovotti, representing Ralford Realty Corp B. The buyer was Russel Fridman, who was represented by AJ Partners, LLC. The brokers involved in the deal were Marco Lala, David Scotto, David Raciti, Jack Lala, and Michelle Lala.
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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93