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2931 Westchester Ave, The B...

Russel Fridman's AJ Partners Acquires Mixed-Use Property In Bronx's Pelham Bay For $2.9M
SOLDMixed-use

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

Jack Lala

RM Friedland

Broker

$107.1M

vol

11 deals

Broker

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