Heritage Equity Partners Acquires Warehouse In Mott Haven, Bronx For $10M
286 Rider Ave, The Bronx, NY 10451, USA
$10,000,000
$486/SF
Building Size
20,555 SF
Asset Type
Other
Closing
Sep 22, 2019
About this deal
AI
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.
On the Map
$10,000,000
$486/SF
Other
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93