Phipps Houses Acquires Melrose Office Building For $8.7M
860 Courtlandt Avenue, The Bronx, New York 10451, United States
$8,700,000
$298/SF
Building Size
29,130 SF
Asset Type
Office
Closing
Jun 20, 2022
About this deal
AI
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.
The office sale at 860 Courtlandt Avenue, The Bronx, New York 10451, United States in New York, New York sold for $8.7M in 2022. The building is 29,130 square feet, implying about 298 per square foot on the published price. This page is the New York, New York file for the 860 Courtlandt Avenue, The Bronx, New York 10451, United States office sold: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else sold near 860 Courtlandt Avenue, The Bronx, New York 10451, United States around 2022. Published consideration for 860 Courtlandt Avenue, The Bronx, New York 10451, United States is $8.7M, dated 2022. Cite this Phipps Houses Acquires Melrose Office Building For $8.7M sale when underwriting similar office product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93