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Ronald Cohen Of Besen Partners Facilitates $3M Mixed-use Property Sale In Melrose, Bronx

Property Image
SOLD
$3,000,000

New York

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Mixed-use9,830 SF
Sold 04/18/2024
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Property Image
SOLD

Ronald Cohen Of Besen Partners Facilitates $3M Mixed-use Property Sale In Melrose, Bronx

3015 Third Avenue

See Similar Deals
Mixed-use9,830 SF
Sold 04/18/2024
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$305
Total Square Footage:9,830 SF
Transaction Type:Sale

The mixed-use property located at 3015 3rd Avenue in Melrose, Bronx, was recently sold for $3,000,000. The asset spans 9,830 square feet, resulting in a price per square foot of $305. This property comprises two interconnected buildings with three large apartments, two stores, and 3,000 square feet of office space. Additionally, the property includes 14,526 square feet of unused air rights and features rear parking on a single corner block through a tax lot.

Summary of transation details:

The deal was facilitated by Ronald Cohen of Besen Partners, representing the seller, the Bardach Family, and overseeing the transaction with the buyer, Joel Gross. Notably, the property included three vacant apartments, two stores, and office space, providing a lucrative investment opportunity in the Melrose market.

Players

Ronald (Ron) Cohen
25 deals$95.3M volume
BROKER

Details

SOLD
IMAGE: Ronald Cohen DATE: 04/18/2024 ADDRESS: 3015 3rd Avenue MARKET: Melrose, Bronx ASSET TYPE: Mixed-use BUYER: Joel Gross SELLER: Bardach Family BROKER: Ronald Cohen (@NYC_Buildings_Showcase) - Besen Partners (@BesenPartners) SALE PRICE: $3,000,000 SF: 9,830 ~ PPSF: $305 NOTE FROM BROKER: Subject property consists of two interconnected mixed-use buildings with rear parking on a single corner block through tax lot. The property includes 3 large apartments, 2 stores and 3,000 SF of office with 14,526 SF of unused air rights. The apartments and office space were delivered vacant.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$10,658.36
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