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777-779 Elton Avenue, The B...

@KlosedProperties Acquires Mixed-Use Property In Bronx For $1.4M
SOLDMixed-use

@KlosedProperties Acquires Mixed-Use Property In Bronx For $1.4M

777-779 Elton Avenue, The Bronx, NY, USA

$1,400,000

$150/SF

Building Size

9,300 SF

Asset Type

Mixed-use

Closing

Feb 7, 2021

AI

Located at 777-779 Elton Avenue in Bronx, this mixed-use property recently sold in a closed transaction. The property spans across 9,300 square feet and was sold for a total price of $1,400,000, resulting in a price per square foot of $150. The transaction took place on February 8, 2021.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,400,000
  • Address: 777-779 Elton Avenue
  • Market: Bronx

The buyer of the property is Adam Hajibai, Steven Kachanian, Jacob Namdar, and Klosed Properties. On the other hand, Christopher Ryan acted as the seller. The deal was facilitated by brokers Jessica Pepe from Citicore and Timour Shafran from CitiCore.

Players

Jessica Pepe

Citicore

Broker

$13.1M

vol

4 deals

Broker
Adam Hajibai

Adam Hajibai

Klosed Properties

Buyer

$76.1M

vol

21 deals

Buyer

Christopher Ryan

Seller

$3.3M

vol

2 deals

Seller

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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93