Apex Investments Acquires Office Building And 2 Development Sites In Bronx For $12.7M
1527 Southern Blvd, The Bronx, NY 10460, USA & 1527 Southern Blvd, The Bronx, NY 10460, USA
Building Size
35,000 SF
Asset Type
Office
Closing
May 3, 2018
About this deal
AI
Apex Investments, led by Kasra Sanandaji, has acquired an office building and two development sites located at 1527 Southern Boulevard, 1520, and 1528 Minford Place in Bronx, New York. The transaction, with a total price of $12,700,000, involved the purchase of these properties from Gem Equities LLC, owned by George E. Maloof.
Summary of transaction details
- Property Type: Office Building & 2 Dev Sites
- Transaction Amount: $12,700,000
- Address: 1527 Southern Boulevard, 1520 and 1528 Minford Place, Bronx, New York
- Seller: Gem Equities LLC – George E. Maloof
- Buyer: Apex Investments – Kasra Sanandaji
Apex Investments, represented by Kasra Sanandaji from Apex Investments, completed the acquisition of this property from Gem Equities LLC. This deal marks a significant investment opportunity in the Bronx market for Apex Investments, as they expand their real estate portfolio in New York.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
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