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1451 Westchester Avenue, Th...

Muhammed Andha Acquires Office Building In Bronx For $3.265M
SOLDOffice

Muhammed Andha Acquires Office Building In Bronx For $3.265M

1451 Westchester Avenue, The Bronx, NY, USA

$3,265,000

$210/SF

Building Size

15,500 SF

Asset Type

Office

Closing

Mar 7, 2019

AI

Located at 1451 Westchester Ave., this office property in BX recently closed in a sale transaction. The deal was completed on 03/08/2019, with a sale price of $3.265 million. The property spans across 15,500 square feet, resulting in a price per square foot of $210. Gabe Libhart was the seller, while Muhammed Andha emerged as the buyer.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $3.265M
  • Square footage: 15,500 SF
  • Price per square foot: $210

The brokers involved in this transaction were Ariel A. Castellanos and Federico Mazzeo from Pinnacle Realty. It is worth noting that there are plans to convert the property from an office space to a mixed-use office/retail space in the future.

Players

Federico Mazzeo

Pinnacle Realty of New York

Broker

$121.6M

vol

24 deals

Broker

Muhammed Andha

Buyer

$12.9M

vol

3 deals

Buyer

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.86%

Cash-on-Cash

-1.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93