Concourse Realty Sells Package Deal In New York City For $20M
SOLD
$20,000,000
New York
See Similar DealsPackage Deal112,500 SF
Sold 03/01/2023
SOLD
Concourse Realty Sells Package Deal In New York City For $20M
1351 Jerome Avenue & 1342 Inwood Avenue
See Similar DealsPackage Deal112,500 SF
Sold 03/01/2023
Summary
NEW YORK
Asset Type:Package Deal
Price Per Square Foot:$177
Total Square Footage:112,500 SF
Transaction Type:Sale
The package deal at 1351 Jerome Avenue & 1342 Inwood Avenue in New York City has been sold for $20,000,000. The combined square footage of the properties is 56,250, resulting in a price per square foot of $356.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $20,000,000
- Square Footage: 56,250
- Price per Square Foot: $356
- Address: 1351 Jerome Avenue & 1342 Inwood Avenue
- Market: New York City
David Simone from Concourse Realty represented the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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