Innovo Property Group Acquires Hunts Point Warehouse From Baldor Specialty Foods For $54.25M
511 Barry St, The Bronx, NY 10474, USA
$54,250,000
$38/SF
Building Size
1,400,000 SF
Asset Type
Other
Closing
Dec 18, 2019
About this deal
AI
The warehouse located at 511 Barry Street in Hunts Point, Bronx has been sold for $54,250,000. The property spans over 140,000 square feet, resulting in a price per square foot of $387.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $54,250,000
- Square Footage: 140,000
- Address: 511 Barry Street, Hunts Point, Bronx
- Market: Hunts Point, Bronx
In this transaction, Innovo Property Group (IPG) acted as the buyer while Baldor Specialty Foods, represented by TJ Murphy, was the seller. Pinnacle Realty, with David Junik and Fred Stein, served as the buyer's representative. CBRE, led by Dan Kaplan, Andrew Chung, and Tim Sheehan, represented the seller.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93