Joseph Briody Acquires Office Building In Castle Hill For $14.5M
450 Zerega Avenue, East Bronx, Bronx, NY, USA
$14,500,000
$359/SF
Building Size
40,392 SF
Asset Type
Office
Closing
Mar 28, 2021
About this deal
AI
The property located at 450 Zerega Avenue in Castle Hill has been sold for $14,500,000. The office building spans over 40,392 square feet and is zoned as M1-1. It has a building square footage (BSF) of 40,800 with a price per BSF (PPBSF) of $355. The price per square foot (PPSF) is $358. The lot size is 40,800 square feet with dimensions of 122.36 ft x 483.87 ft. The transaction took place on March 29, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $14,500,000
- Market: Castle Hill
- Buyer: Joseph Briody
- Seller: Zerega Hill Properties
The buyer in this deal is Joseph Briody, represented by their broker at an undisclosed agency. The seller, Zerega Hill Properties, was not represented by a broker. The property has a floor-area ratio (FAR) of 0.99 and falls under tax class 4. A permit for alteration type 2 was issued on March 27, 2013.
Players
Bronx Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93