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1854 Westchester Avenue

RW Real Estate Acquires Retail Property In Parkchester For $1.25M
SOLDRetail

RW Real Estate Acquires Retail Property In Parkchester For $1.25M

1854 Westchester Avenue

$1,250,000

$480/SF

Building Size

2,600 SF

Asset Type

Retail

Closing

Sep 21, 2022

AI

The retail property located at 1854 Westchester Avenue in Parkchester has been sold for a price of $1,250,000. The transaction took place on 09/22/2022, and the property spans across 2,600 square feet. The sale price per square foot was $481.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,250,000
  • Address: 1854 Westchester Avenue, Parkchester
  • Market: Parkchester
  • Asset Type: Retail

The buyer in this transaction was RW Real Estate, represented by Corey Horowitz. The seller was the Zargar Family. The brokers involved in the deal were Greg Melanson & John Barney from Weber Frank.

Players

Gregory Melanson

Weber Frank Real Estate

Broker

$91.1M

vol

19 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage
Corey Horowitz

Corey Horowitz

RW Real Estate

Buyer

$23M

vol

7 deals

Buyer

New York 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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93