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3190 Riverdale Ave, The Bro...

LAL Property Management Corp. Acquires Mixed-Use Property In Bronx For $8.1M
SOLDMixed-use

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

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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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