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459 East 149th Street, The ...

Joseph Simone Acquires Mixed-Use Property In Melrose, Bronx For $32M
SOLDMixed-use

Joseph Simone Acquires Mixed-Use Property In Melrose, Bronx For $32M

459 East 149th Street, The Bronx, New York 10455, United States

$32,000,000

$393/SF

Building Size

81,336 SF

Asset Type

Mixed-use

Closing

Jan 12, 2022

AI

The property is located at 459 East 149 Street in Melrose, Bronx, and is classified as a mixed-use asset. The transaction was finalized for a price of $32,000,000, encompassing a total square footage of 81,336 with a price per square foot of $393. The zoning designation for the property is C4-4.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $32,000,000
  • Address: 459 East 149 Street
  • Market: Melrose, Bronx
  • Square Footage: 81,336
  • Price per Square Foot: $393
  • Zoning: C4-4
  • Buyer: Joseph Simone
  • Seller: Evan Petracca

Joseph Simone acted as the buyer in this transaction, while Evan Petracca represented the seller. The deal confirms the involvement of these key individuals in the ownership transfer of the property situated in the Bronx.

Players

Joseph Simone

Simone Development Companies

Broker

$243M

vol

12 deals

Broker
Joseph Simone

Joseph Simone

Simone Development Companies

Buyer

$243M

vol

12 deals

Buyer

Evan Petracca

Triangle Equities

Seller

$82M

vol

2 deals

Seller

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

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93