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Connor Rose Essex And Patrick Michell Purchase Mixed-Use Property For $4.8M In Riverdale

Property Image
SOLD
$4,800,000

New York

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Mixed-use12,143 SF
Sold 05/21/2025
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Property Image
SOLD

Connor Rose Essex And Patrick Michell Purchase Mixed-Use Property For $4.8M In Riverdale

3174 Riverdale Avenue

See Similar Deals
Mixed-use12,143 SF
Sold 05/21/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$395
Total Square Footage:12,143 SF
Transaction Type:Sale

The property asset involved in this transaction is a mixed-use building located at 3174 Riverdale Avenue in the Riverdale market. This asset includes 9 residential units and 3 commercial suites, encompassing a total square footage of 12,143. The sale price for the property was set at $4,800,000, leading to a price per square foot of approximately $395.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $4,800,000
  • Sale Date: 5/21/2025
  • Broker: Samia Farah - KSR
  • Buyer: Connor Rose Essex - Patrick Michell
  • Seller: Les Lerner

This deal includes key individuals such as the buyer Connor Rose Essex, partnering with Patrick Michell, and the seller Les Lerner. Samia Farah represented the transaction as the broker, facilitating the sale of the mixed-use asset in the Riverdale market.

Players

Samia Farah
Kassin Sabbagh Realty
Samia Farah
5 deals$14.2M volume
BROKER

Details

SOLD
IMAGE: Samia Farah DATE: 5/21/2025 ADDRESS: 3174 Riverdale Avenue MARKET: Riverdale ASSET TYPE: Mixed-use (9 Residential & 3 Commercial suits) BUYER: Connor Rose Essex - Patrick Michell SELLER: Les Lerner BROKER: Samia Farah (@SamiaFarahCommercialRealtor) - KSR (@Kassin_Sabbagh_Realty) SALE PRICE: $4,800,000 SF: 12,143 ~ PPSF: $395

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

$256,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39