PFS Service Corp. Acquires Bank Property In Bronx For $16.1M
2244 Westchester Ave, Bronx, NY, USA
$16,100,000
$540/SF
Building Size
29,768 SF
Asset Type
Other
Closing
Sep 5, 2021
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93