Heritage Equity Partners Acquires Warehouse In Mott Haven, Bronx For $10M
SOLD
$10,000,000
+ 1
New York
See Similar DealsOther20,555 SF
Sold 09/23/2019
SOLD
Heritage Equity Partners Acquires Warehouse In Mott Haven, Bronx For $10M
286 Rider Ave, The Bronx, NY 10451, USA
See Similar DealsOther20,555 SF
Sold 09/23/2019
+ 1
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$486
Total Square Footage:20,555 SF
Transaction Type:Sale
A warehouse located at 286 Rider Avenue in Mott Haven, Bronx has been sold in a closed transaction. The property, measuring 20,555 square feet, was sold for a price of $10,000,000, resulting in a price per square foot of $486. The building's total square footage is 100,000, leading to a price per buildable square foot of $100. The property is planned to be developed into 150 units.
Summary of transation details
- Property Type: Warehouse
- Transaction Amount: $10,000,000
- Address: 286 Rider Avenue
- Market: Mott Haven, Bronx
The buyer of the property is Heritage Equity Partners, represented by Toby Moskovits and Michael Lichtenstein. The seller is Robert Newblatt. The transaction was facilitated by Capital Property Partners, with Daniel Rahmani serving as the broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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