Aziz Tareb Acquires Mixed-Use Property In Parkchester, Bronx For $3.85M
SOLD
$3,850,000
New York
See Similar DealsMixed-use205,910 SF
Sold 09/21/2020
SOLD
Aziz Tareb Acquires Mixed-Use Property In Parkchester, Bronx For $3.85M
645 Van Nest Ave, The Bronx, NY 10460, USA
See Similar DealsMixed-use205,910 SF
Sold 09/21/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$18
Total Square Footage:205,910 SF
Transaction Type:Sale
The mixed-use property located at 645 Van Nest Avenue in Parkchester, Bronx has been sold in a closed transaction. The property is zoned as R5 and falls under tax class 2, making it suitable for various uses. The property spans over 20,591 square feet and was sold for a total price of $3,850,000, resulting in a price per square foot of $186. The previous sale of the property took place in December 2007 for $2,200,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,850,000
- Market: Parkchester, Bronx
- Zoning: R5
- Tax Class: 2
The buyer of the property is Aziz Tareb, while the seller is Akija Lajqi. The deal was facilitated by Richard Torres and Cayce Ortale from RASEquityPartners acting as brokers for both parties. They represented Aziz Tareb as the buyer and Akija Lajqi as the seller throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,678.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,250.96
Annual Debt Service$219,011.57
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