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152 West 231st Street

Kovi Wiener Of Chestnut Holdings Acquires Retail Asset In Bronx For $4.7M
SOLDRetail

Kovi Wiener Of Chestnut Holdings Acquires Retail Asset In Bronx For $4.7M

152 West 231st Street & 3071 Bailey Avenue

$4,700,000

$249/SF

Building Size

18,838 SF

Asset Type

Retail

Closing

Oct 2, 2024

AI

This retail asset, located at 152 West 231st Street & 3071 Bailey Avenue in the Bronx, has a sale price of $4,700,000. The asset encompasses a total square footage of 9,419 square feet, resulting in a price per square foot of $498.

Summary of transaction details:

The transaction involved Kovi Wiener representing Chestnut Holdings as the buyer, while Herbert Freedman acted as the seller. The brokers facilitating the transaction were Giancarlo Cugini and Karl Brumback from JLL.

Players

Karl Brumback

JLL

Broker

$388.3M

vol

25 deals

Broker

Bronx Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.38%

Cash-on-Cash

-0.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93