Connor Rose Essex And Patrick Michell Purchase Mixed-Use Property For $4.8M In Riverdale
3174 Riverdale Avenue
$4,800,000
$395/SF
Building Size
12,143 SF
Asset Type
Mixed-use
Closing
May 20, 2025
About this deal
AI
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.
On the Map
$4,800,000
$395/SF
Mixed-use
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Bronx 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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93