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Gameel Saeidi Purchases Retail Property From Koptiev Family For $1.35M In Bronx

Property Image
SOLD
$1,350,000

New York

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Retail2,800 SF
Sold 02/20/2025
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Property Image
SOLD

Gameel Saeidi Purchases Retail Property From Koptiev Family For $1.35M In Bronx

1245 Southern Boulevard

See Similar Deals
Retail2,800 SF
Sold 02/20/2025
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$482
Total Square Footage:2,800 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 1245 Southern Boulevard in the Bronx. The retail strip has a total square footage of 2,800 and was fully occupied at the time of sale. The sale price for the property was $1,350,000, resulting in a price per square foot of $482.

Summary of transaction details:

This transaction involved key individuals including the buyer, Gameel Saeidi, and the seller, Koptiev Family, with representation from brokers Scott Plasky, Alexander Arustamian, and William Stephan, who are associated with Marcus & Millichap. The property was a two-tenant retail strip, indicating a diverse tenant mix.

Players

William "Billy" Stephan
39 deals$236.5M volume
BROKER

Scott Plasky
Marcus & Millichap
78 deals$406.4M volume(212) 430-5229
BROKER

Alexander (Alex) Arustamian
Marcus & Millichap
24 deals$116M volume(212) 430-5276
BROKER

Details

SOLD
IMAGE: Scott Plasky, Alexander Arustamian & William Stephan DATE: 02/20/2025 ADDRESS: 1245 Southern Boulevard MARKET: Bronx ASSET TYPE: Retail BUYER: Gameel Saeidi SELLER: Koptiev Family BROKERS: Scott Plasky (@PlaskyRetailGroup), Alexander Arustamian (@Alex_Arustamian) & William Stephan (@BillyStephan_MM) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $1,350,000 SF: 2,800 ~ PPSF: $482 NOTE FROM BROKER: 2,800 SF, two-tenant retail strip. Property was 100% occupied.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$72,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26