Joseph Simone Acquires Mixed-Use Property In Melrose, Bronx For $32M
SOLD
$32,000,000
New York
See Similar DealsMixed-use81,336 SF
Sold 01/13/2022
SOLD
Joseph Simone Acquires Mixed-Use Property In Melrose, Bronx For $32M
459 East 149th Street, The Bronx, New York 10455, United States
See Similar DealsMixed-use81,336 SF
Sold 01/13/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$393
Total Square Footage:81,336 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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