Simone Development Companies Acquires Retail And Development Site In Pelham Bay, Bronx For $12M
1730 Eastchester Road, 1724 Eastchester Road & 1742 Eastchester Road
$12,000,000
$63/SF
Building Size
62,660 SF
Asset Type
Retail
Closing
Oct 2, 2023
About this deal
AI
The retail building at 1730 Eastchester Road, as well as the development buildings at 1742 and 1724 Eastchester Road, located in Pelham Bay, Bronx, were sold in a transaction worth $12 million. The buyer, Joseph Simone of Simone Development Companies, acquired these properties from Madison International Realty, represented by Ronald M. Dickerman. The total square footage of the properties is 62,660 square feet, with a price per square foot of $192. The sale also included the additional asset of a development site.
On the Map
$12,000,000
$63/SF
Retail
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Eastchester 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93