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Simone Development Companies Acquires Retail And Development Site In Pelham Bay, Bronx For $12M
SOLD
$12,000,000
New York
See Similar DealsRetail187,980 SF
Sold 10/02/2023
SOLD
Simone Development Companies Acquires Retail And Development Site In Pelham Bay, Bronx For $12M
1730 Eastchester Road, 1724 Eastchester Road & 1742 Eastchester Road
See Similar DealsRetail187,980 SF
Sold 10/02/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$63
Total Square Footage:187,980 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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