Urban Edge Acquires Retail Property In Bronx From Forest City For $32M
1910 Story Ave, The Bronx, NY 10473, USA
$32,000,000
$281/SF
Building Size
113,793 SF
Asset Type
Retail
Closing
Jan 16, 2017
About this deal
AI
The retail property located at 1910 Story Ave in Bronx, NYC Boroughs, was sold for a price of $32,000,000. The property was purchased by Urban Edge from the sellers Forest City (REIT), JLL Income Property Trust, TRS of Texas. The property is situated in a prime location in the bustling city, making it an attractive investment opportunity.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $32,000,000
- Address: 1910 Story Ave, Bronx
- Market: NYC Boroughs
The deal involved the following key individuals and companies. Forest City (REIT), JLL Income Property Trust, and TRS of Texas represented the sellers. Urban Edge acted as the buyer in the transaction. The successful completion of this deal highlights the strategic decision-making and negotiation skills of the involved parties.
Players
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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93