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540 Concord Avenue

Alejandro Quito Sells Mixed-Use Property In Mott Haven For $6.8M
SOLDMixed-use

Alejandro Quito Sells Mixed-Use Property In Mott Haven For $6.8M

540 Concord Avenue

$6,800,000

Building Size

Asset Type

Mixed-use

Closing

Feb 17, 2022

AI

The mixed-use property located at 540 Concord Avenue in Mott Haven, Bronx was recently sold for $6,800,000. The transaction was facilitated by Alejandro Quito, the seller, and Greg Corbin of Rosewood Realty Group, who represented the seller as the broker. The property consists of 38 units, resulting in a price per unit of $178,947.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $6,800,000
  • Address: 540 Concord Avenue
  • Market: Mott Haven, Bronx
  • Units: 38
  • Price per Unit (PPU): $178,947

Greg Corbin from Rosewood Realty Group played a vital role as Alejandro Quito's broker representative in this deal. The successful transaction highlights the collaborative efforts of both parties involved.

Players

Greg Corbin

Northgate Real Estate Group

Broker

$1.2B

vol

84 deals

Broker

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

2.33%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93