Feil Organization Acquires Mixed-Use Property In Riverdale For $9.8M
3508 Johnson Avenue, West Bronx, Bronx, NY, USA
$9,830,000
$1,465/SF
Building Size
6,710 SF
Asset Type
Mixed-use
Closing
Aug 5, 2020
About this deal
AI
The property involved in this transaction is located at 3508-3510 Johnson Avenue & 549 West 235th Street in the Riverdale market. It is a mixed-use property with a zoning designation of R6A, C1-2. The property consists of 22,593 square feet with a building square footage of 6,710. The sale price for the property was $9,830,000, resulting in a price per square foot of $1,464. The buyer of the property was Feil Organization, while the seller was Midwood Investment & Development. The transaction took place on August 5, 2021.
Summary of transaction details:
- Property Type: Mixed use
- Transaction Amount: $9,830,000
- Address: 3508-3510 Johnson Avenue & 549 West 235th Street
- Market: Riverdale
- Zoning: R6A, C1-2
- Square Footage: 22,593
- Price per Square Foot: $1,464
The buyer's representative in this transaction was Brian Feil of the Feil Organization. The lender for the transaction was Bank Of America, providing a loan amount of $6,390,000.
Players
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
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93