PFS Service Corp. Acquires Bank Property In Bronx For $16.1M
SOLD
$16,100,000
New York
See Similar DealsOther29,768 SF
Sold 09/06/2021
SOLD
PFS Service Corp. Acquires Bank Property In Bronx For $16.1M
2244 Westchester Ave, Bronx, NY, USA
See Similar DealsOther29,768 SF
Sold 09/06/2021
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$540
Total Square Footage:29,768 SF
Transaction Type:Sale
The property at 2244 Westchester Ave. in Bronx has been sold for a price of $16,100,000. The seller, PFS Service Corp. (PDL Community Bancorp) represented by Carlos P. Naudon, closed the transaction. The property has a building square footage (BSF) of 45,938 and a price per BSF of $350. Additionally, it has a total square footage (SF) of 29,768 with a price per SF of $540. The zoning for the property is R5, C2-2, C1-2, and the tax class is 4. The lot size is 36,750 and the lot dimensions are 306.5 ft x 125 ft. A permit for alteration type 2 was issued on July 17, 2018.
Summary of transaction details:
- Property Type: Bank
- Transaction Amount: $16,100,000
- Seller: PFS Service Corp. (PDL Community Bancorp)
- Seller's Representative: Carlos P. Naudon
It is important to note that the property has a floor area ratio (FAR) of 0.81.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$858,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,199.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,322.21
Annual Debt Service$915,866.57
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