Phipps Houses Acquires Melrose Office Building For $8.7M
SOLD
$8,700,000
New York
See Similar DealsOffice29,130 SF
Sold 06/21/2022
SOLD
Phipps Houses Acquires Melrose Office Building For $8.7M
860 Courtlandt Avenue, The Bronx, New York 10451, United States
See Similar DealsOffice29,130 SF
Sold 06/21/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$298
Total Square Footage:29,130 SF
Transaction Type:Sale
The property involved in this closed transaction is an office located at 860 Courtlandt Avenue in the Melrose market. The sale took place on 06/21/2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $8,700,000
- Square Footage: 29,130
- Price per Square Foot: $298
- Buyer: Phipps Houses
- Seller: Alexander Svecherny
Phipps Houses acquired the property from Alexander Svecherny in this transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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