LAL Property Management Corp. Acquires Mixed-Use Property In Bronx For $8.1M
3190 Riverdale Ave, The Bronx, NY 10463, USA
Building Size
1,000 SF
Asset Type
Mixed-use
Closing
May 30, 2018
About this deal
AI
The mixed-use property located at 3190 Riverdale Avenue in New York, Bronx, was recently sold for a price of $8,100,000. This property comprises of 18 units, including 13 apartments, 5 professional suites, and 7 indoor parking spaces. The transaction involved the sale of the property from M Badaly, LLC, represented by Nima Badaly, to LAL Property Management Corp., represented by Les Lerner.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $8,100,000
- Address: 3190 Riverdale Avenue, New York, Bronx
- Market: Bronx
- Units: 18 (13 apartments, 5 professional suites, 7 indoor parking spaces)
The seller, M Badaly, LLC, was represented by Nima Badaly in this transaction. On the buyer's side, LAL Property Management Corp. was represented by Les Lerner. This deal showcases the collaboration between the two parties involved and highlights their expertise in the real estate industry.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93