Melrose Realty Group Acquires Mixed-Use Property On Melrose Avenue, New York
769 Melrose Ave, The Bronx, NY 10451, USA
Building Size
125,860 SF
Asset Type
Mixed-use
Closing
May 9, 2018
About this deal
AI
The property located at 769 Melrose Avenue in New York's Bronx market has recently been sold. The mixed-use asset spans a total of 12,586 square feet and comprises 14 units. The transaction took place on May 10, 2018, with a selling price of $2,450,000, resulting in a price per square foot of $194.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $2,450,000
- Square Footage: 12,586 sf
- Price Per Square Foot: $194
- Units: 14
The seller of the property was Shawki Tareb, while the buyer was Melrose Realty Group, represented by Robert Yakubov. The transaction was facilitated by broker Capital Property Partners, with Michael Saidian representing the agency.
On the Map
Mixed-use
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Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93