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657-659 East 187th Street, ...

Klosed Properties Acquires Mixed-Use Property In Belmont, Bronx For $1.77M
SOLDMixed-use

Klosed Properties Acquires Mixed-Use Property In Belmont, Bronx For $1.77M

657-659 East 187th Street, Bronx, NY, USA

$1,767,000

$193/SF

Building Size

9,145 SF

Asset Type

Mixed-use

Closing

May 27, 2020

AI

657-659 E. 187th Street in Belmont, Bronx has been sold in a recent closed transaction. The property is a mixed-use building and falls under tax class 2B. The sale took place on 05/27/2021.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,767,000
  • Square Footage: 9,145
  • Price per Square Foot: $193
  • Address: 657-659 E. 187th Street, Belmont, Bronx
  • Market: Belmont, Bronx

The buyer of the property is @KlosedProperties, represented by Steven Kachanian and Adam Hajibai. The seller in this transaction is Ralph Esposito.

The brokers involved in the deal include Jason Gold, Matt Gillis, and Daniel Mahfar from Ariel Property Advisors.

Players

Daniel Mahfar

Ariel Property Advisors

Broker

$753M

vol

42 deals

Broker
Adam Hajibai

Adam Hajibai

Klosed Properties

Buyer

$76.1M

vol

21 deals

Buyer

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

8.98%

Cash-on-Cash

-2.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93