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Aziz A Tareb Acquires Retail Property In Mount Hope, Bronx For $4M

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SOLD
$4,000,000

New York

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Retail4,835 SF
Sold 12/07/2021
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Property Image
SOLD

Aziz A Tareb Acquires Retail Property In Mount Hope, Bronx For $4M

17 East Tremont Avenue, The Bronx, New York 10453, United States

See Similar Deals
Retail4,835 SF
Sold 12/07/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$827
Total Square Footage:4,835 SF
Transaction Type:Sale

Located at 17 East Tremont Avenue in Mount Hope, Bronx, this retail property was recently sold on December 7, 2021. The asset, with a total building square footage (BSF) of 29,107, sits on a lot size of 4,835 square feet. The property is zoned under C4-4D, allowing for various commercial uses. The transaction involved a buyer named Aziz A Tareb and a seller named Vincent Tomasino Jr. The sale price for the property was $4,000,000, resulting in a price per BSF (PPBSF) of $137 and a price per square foot (PPSF) of $827.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,000,000
  • Address: 17 East Tremont Avenue, Mount Hope, Bronx
  • Market: Mount Hope, Bronx
  • Zoning: C4-4D

It is worth noting that the property has a floor area ratio (FAR) of 1.00 and falls under tax class 4. The lot dimension measures 50.14 ft x 98.55 ft. The last recorded sale for the property occurred on January 17, 2014, with a sale price of $2,215,038.

Players

7 deals$32.2M volume
BUYER

Details

SOLD
IMAGE: 12/07/2021 ADDRESS: 17 East Tremont Avenue MARKET: Mount Hope, Bronx ASSET TYPE: Retail ~ZONING: C4-4D BUYER: Aziz A Tareb SELLER: Vincent Tomasino Jr PRICE: $4,000,000 BSF: 29,107 ~ PPBSF: $137 SF: 4,835 ~ PPSF: $827 FAR: 1.00 TAX CLASS: 4 LOT SIZE: 4,835 LAST SALE PRICE: $2,215,038 (1/17/2014) LOT DIMENSION: 50.14 ft x 98.55 ft

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

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
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