5 Boro Real Estate Partners Acquires Mixed-Use Property In Bronx For $8.75M
2970 3rd Avenue, Bronx, NY 10455, USA
$8,750,000
$583/SF
Building Size
15,000 SF
Asset Type
Mixed-use
Closing
Oct 11, 2021
About this deal
AI
The mixed-use property located at 2970 Third Avenue in Bronx was recently sold in a transaction that took place in September 2021. The sale involved the buyers, 5 Boro Real Estate Partners, and the sellers, The Jackson Group. The property spans an area of 15,000 square feet and was sold for a total price of $8,750,000, resulting in a price per square foot of $583.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,750,000
- Address: 2970 Third Avenue
- Market: Bronx
Representing the buyers in this transaction was Steve Lorenzo from Lee & Associates NYC. Steve Lorenzo played a key role in facilitating the sale of the property on behalf of 5 Boro Real Estate Partners.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Steve Lorenzo to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93